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Raise Production Inc. Announces 2014 Financial Results and Operations Update

CALGARY, ALBERTA — (Marketwired) — 04/27/15 — Raise Production Inc. (TSX VENTURE: RPC) (“Raise” or the “Company”) has released its financial results for the year ended December 31, 2014.

PRESIDENT–S UPDATE

The Company is pleased to update its shareholders on recent activities and progress in commercializing the Horizontal Wellbore Production system (the “System”).

As stated in our last press release dated April 14, 2015, the testing of replacements for the malfunctioning part continues to be successful and is ongoing. The purpose of the extended test protocol is to ensure that the part performs under different operating environments. Testing is being conducted at Raise–s facilities in specially designed apparatus which, to the extent possible, simulate pumping conditions down hole. Qualification of the parts being tested have advanced from initial quality inspection to static pressure competency through to continuous repetitive pump activation at varying pressures in oil sourced from the reservoir the System will be deployed in. These tests are ongoing and will be used to determine long term life expectancy. Testing is also designed to qualify the consistency of the manufacturing process for expansion to commercial part volumes.

After exhaustive research, design changes and numerous tests Raise believes that it has found (subject to continued testing) a suitable manufacturing process that will allow commercial quantities while maintaining quality. In addition to establishing a product for Viking style reservoirs, the Company believes the chosen process should allow timely transition of the System into deeper, higher pressure and higher temperature wellbores and will also allow the option of increased sizing of the System. Moreover, the Company has also identified, through this testing process, an optional supplier if quantities exceed the capability of the first manufacturer, or there is an unforeseen development which necessitates a change of supplier.

It is Raise–s intention to finalize qualification of the part in the next month and to deploy a System by the end of the second quarter of this year. In preparation of continued advancement of our technologies and the transition to commercial operations, Raise is currently undertaking a non-brokered private placement of up to 2,500,000 common shares.

Developing and sourcing this replacement part has been a significant project and required considerable time and effort from the entire Company. Because of this, the Company had suspended development activities for its new rod pump technology during the last four months. With what appears to be a solution to the part issue with the System, the Company now has resources to dedicate to finalizing design and function testing its rod pumps. These rod pumps are intended to allow for high angle deployment and a more efficient handling of associated natural gas in light oil applications thereby minimizing inefficiencies experienced from “gas locking”. Raise believes its rod pumps are ideal for use by all customers including those with higher GOR (Gas Oil Ratio) wellbores. The Company anticipates deploying rod pumps into the Cardium (Western Alberta) and Torquay (South East Sask) wellbores within the next few weeks.

Raise wishes to express its thanks to its shareholders for their understanding and patience during the last six months. As we have expressed before, research and development can be challenging and we believe we have met the challenges that have hampered our initial deployments. We have learned valuable information from those deployments and retrievals in addition to the challenges we faced over the last few months. These experiences become a large part of the internal knowledge base and experience that positions Raise as an industry leader in understanding horizontal flow challenges and addressing them with what we expect to be novel commercial solutions.

Thank you to all for your continued support.

RESULTS OF OPERATIONS

Statements of Loss and Comprehensive Loss

Raise–s full audited financial statements and management–s discussion and analysis will be filed shortly on the Company–s profile on the SEDAR website.

About Raise Production Inc.

The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its proprietary products to enhance and increase ultimate production in both conventional and unconventional horizontal oil and gas wells.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Certain information included in this news release constitutes forward-looking statements under applicable securities legislation. Forward-looking statements or information typically contain or can be identified by statements that include words such as “anticipate”, “assume”, “based”, “believe”, “can”, “continue”, “depend”, “estimate”, “expect”, “forecast”, “if”, “intend”, “may”, “plan”, “project”, “propose”, “result”, “upon”, “will”, “within” or similar words suggesting future outcomes or statements regarding an outlook.

These forward-looking statements include, among other things, the suitability of the System for the stated purposes; the availability of the optional supplier if quantities exceed the capability of the first manufacturer, or there is an unforeseen development which necessitates a change of supplier; the success and timing of the finalization of part qualification, System deployment and rod pump deployment; and the availability of resources to dedicate to finalizing design and function testing of rod pumps.

Such forward-looking statements or information are based on a number of assumptions that may prove to be incorrect. Assumptions have been made regarding, among other things: the ability of the Company to obtain required capital to finance its new product development, the successful completion of further product development and testing within predicted timelines or at all, the ability to commercialize products and operations, the ability to adequately protect proprietary information and technology from its competitors; the ability to obtain partnering opportunities; the ability to attract and retain key personnel and key collaborators; and the ability to successfully compete in targeted markets.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to publicly update or revise any of the included forward-looking statements, except as required by applicable Canadian securities law. Forward-looking statements are based upon the current opinions, estimates, projections, assumptions and expectations of management of the Company as at the effective date of such statements and, in some cases, information supplied by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. By its nature, forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statement will not occur. These risks and uncertainties include, but are not limited to: the possibility that testing, deployment and commercialization of the System may not be successfully completed for any reason (including the failure to obtain the required approvals from regulatory authorities) and regulatory changes. Accordingly, readers should not place undue reliance upon the forward-looking statements contained in this news release and such forward-looking statements should not be interpreted or regarded as guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company–s continuous disclosure filings that are available at .

Contacts:
Raise Production Inc.
Eric Laing
President and Chief Executive Officer

Raise Production Inc.
Susan Scullion
Chief Financial Officer

Raise Production Inc.
Scott Riddell
VP, Business Development

(403) 699-7675

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