Marsa Energy Inc. Provides Corporate Update & Announces Signature of Reserve Base Loan Mandate Letters

CALGARY, ALBERTA--(Marketwired - June 30, 2015) - Marsa Energy Inc. ("Marsa" or the "Company") (TSX VENTURE:MEP) is pleased to announce that it has made significant regulatory advances on its Ortakoy Licence in the Republic of Turkey and has also signed reserve based debt facility mandate letters with a European International Financial Institution ("IFI") and BNP Paribas ("BNPP").

Ortakoy Licence (AR/MRS/3913) - Republic of Turkey

On June 3rd, 2015, the General Directorate of Petroleum Affairs ("GDPA"), and the Ministry of Energy in Turkey approved the registration of Marsa's four new gas fields; Poyraz Ridge, Demirtepe (previously referred to as S4-1), Korukoy (previously referred to as N3-1) and Seheryeli. Upon receipt of this approval, Marsa submitted four separate operating licence applications to the GDPA and the Ministry of Energy on June 9th, 2015, converting significant portions of the Ortakoy Exploration licence into production leases that have 20 year terms with two possible further ten year extensions. Marsa anticipates these operating licences will be awarded in late July of this year.

Marsa's plan to have a 10 million cubic feet per day gas plant, gathering system and pipeline interconnect continues to advance with a view to first gas sales circa Q1 2017.

Reserve Based Lending Facility

Pursuant to the reserve based debt facility mandate letters signed with the IFI and BNPP, the IFI and BNPP contemplate lending a combined maximum of US$20 million to the Company towards the development and tie in of the Company's Poyraz Ridge gas field located on its Ortakoy Licence in the Republic of Turkey. To access these funds Marsa must, amongst other things, raise an additional US$10 million which in combination with the loan proceeds should fully fund the development and tie in of the Poyraz field. Marsa is actively pursuing a number of initiatives to acquire the requisite additional capital. The IFI and BNPP continue to move this facility through their internal processes and provided everything continues to be approved, and Marsa meets its capital obligations, first disbursements should be available in the fall of this year.