Shoreline Energy Corp. Announces Amended and Restated Forbearance Agreements With Certain Senior Lenders

CALGARY, ALBERTA--(Marketwired - Oct. 16, 2014) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to announce it has entered into amendment agreements extending its previously expired forbearance agreements with certain senior lenders (collectively, the "Forbearance"). In connection with execution of the Forbearance, Shoreline paid down $3,441,000 of the aggregate amount owing to these lenders, resulting in an aggregate balance owing of approximately $5,439,000. The Forbearance is effective until December 31, 2014 and is subject to achievement by Shoreline of various milestones and ultimate repayment of the entire indebtedness.

The Forbearance will provide Shoreline with the ongoing opportunity to complete its strategic alternatives process, co-ordinated by its advisor RBC Capital Markets. The strategic alternatives process will continue to provide interested parties the opportunity to pursue transactions across Shoreline's suite of assets.

The Corporation cautions that there are no assurances or guarantees that (i) the ongoing strategic alternatives process will result in additional transactions; (ii) if additional transactions are undertaken, the terms or timing of such transactions will be satisfactory to all stakeholders; or (iii) the ongoing conditions of the Forbearance will be met to the satisfaction of the lenders.

The Corporation will update the market upon material developments in the strategic alternatives process.

Investor Information

Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares and convertible unsecured subordinated debentures are currently listed on the TSX under the trading symbols "SEQ" and "SEQ.DB", respectively. Additional information regarding Shoreline is available under the Corporation's profile at www.sedar.com or at the Corporation's website, www.shorelineenergy.ca.

Forward Looking and Cautionary Statements

This news release contains forward-looking statements relating to successful completion of a strategic alternatives process, and satisfaction of forbearance conditions. These forward-looking statements may include opinions, assumptions, estimates and management's assessment of future plans and operations.