Dixie Energy Trust Releases Year-End December 31, 2012 Financial Results and Statement of Other Oil and Gas Information as at December 31, 2012

CALGARY, April 30, 2013 /CNW/ - Dixie Energy Trust ("Dixie" or the "Trust") is pleased to report its financial results for the period from formation of the Trust to December 31, 2012, and the filing of its statement of other oil and gas information ("Statement of Other Oil and Gas Information") as at December 31, 2012. Dixie's audited financial statements, related management's discussion and analysis ("MD & A"), and the Statement of Other Oil and Gas Information have been filed with the applicable Canadian securities regulators and are available on the Trust's website and on SEDAR at www.sedar.com.

Summary of 2012 Financial Results

For the period from the date of formation of the Trust on June 29, 2012 to December 31, 2012 the Trust had no revenues and a net loss of $1,113,745 and a basic and diluted net loss per trust unit of $0.11. Diluted loss per trust unit was equal to basic loss per trust unit as there were no "in-the-money" dilutive instruments outstanding as of December 31, 2012. The Trust's total comprehensive loss for the period, which included a foreign currency translation gain, was $1,103,961. The Trust declared no distributions during the period.

As of December 31, 2012 the cash position of the company was $5,029,659 with working capital of $5,497,870.

2012 Highlights

• Acquired working interest in oil and gas leases for a purchase price of US$967,000 in the Maple Branch and Strong Field prospects in the State of Mississippi.
  
  
• Participated in the drilling and completion of the Holliman 7-13H No.1 well in the Maple Branch prospect targeting the Lewis formation. As of December 31, 2012, Dixie had paid US$668,767 for its 15% share of the budgeted drilling and completion costs of the well of which US$331,410 had been spent. After testing, swabbing, and pump installation the well started producing oil March 28, 2013 and the average production from April 1 - April 28, 2013 was approximately 222 barrels of oil per day ("bopd"). Readers are cautioned that initial production rates are not necessarily indicative of long-term performance of the relevant well or fields or of ultimate recovery of hydrocarbons. See "Oil and Gas Disclaimers" below.
  
  
• On December 16, 2012, the Holliman 7-13H No.2 well in the Maple Branch prospect targeting the Sanders formation was spud. As of December 31, 2012 Dixie had paid US$75,000 to increase its interest in the Holliman 7-13H No.2 well from 15% to 20% and US$432,568 for its share of the budgeted drilling and completion costs of the well of which US$81,085 had been spent. The well was rig released on January 14, 2013 and was completed February 6, 2013. After testing, swabbing, and pump installation the well started producing oil March 22, 2013 and the average production from April 1 - April 28, 2013 was approximately 311 bopd. Readers are cautioned that initial production rates are not necessarily indicative of long-term performance of the relevant well or fields or of ultimate recovery of hydrocarbons. See "Oil and Gas Disclaimers" below.

For Dixie's operational update please refer to the Trust's press release issued on April 25, 2013.

2012 Year End Oil and Gas Disclosures

The following oil and gas information is provided as at December 31, 2012 in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. As at December 31, 2012, Dixie did not have an interest in any oil and gas wells (either producing or non-producing) or any oil and gas reserves.

Properties with No Attributed Reserves

The following table summarizes information with respect to Dixie's properties to which no reserves have been specifically attributed (undeveloped land holdings), which as at December 31, 2012, represented all of Dixie's interests in oil and natural gas properties.

Land Holdings Without Attributed Reserves As at December 31, 2012
	Unproved Properties (Acres)
	Gross		Net
Mississippi	15,331		2,904
Alabama	620		124
	15,951		3,028

About Dixie Energy Trust
Dixie is an energy trust created to provide investors with an oil and gas exploration focused investment. The strategy of Dixie is to acquire, exploit and develop, indirectly through its subsidiaries, long-life crude oil and gas prospects and reserves in the United States gulf coast states, primarily in Mississippi and Alabama. Additional information is available on DixieEnergyTrust.com.

Oil and Gas Disclaimers

"bopd" means barrels of oil per day.

Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons, however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. While encouraging, readers are cautioned not to place reliance on such rates. The initial production rate may be estimated based on other third party estimates or limited data available at this time. In all cases in this news release initial production results are not necessarily indicative of long-term performance of the relevant well or fields or of ultimate recovery of hydrocarbons.

Forward Looking Statement Disclaimer
Certain statements included in this news release constitute forward looking statements or forward looking information under applicable securities legislation. Such forward looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook.

Forward looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although Dixie believes that the expectations reflected in such forward looking statements or information are reasonable, undue reliance should not be placed on forward looking statements or information because Dixie can give no assurance that such expectations will prove to be correct.

The forward looking statements or information contained in this news release are made as of the date hereof and Dixie undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this news release are expressly qualified by this cautionary statement.

© 2013 Dixie Energy Trust
All rights reserved.

All other trademarks are the property of their respective owners

SOURCE: Dixie Energy Trust

David G. Anderson
T: 403 232 1010