Raise Production Inc. Announces Business Development Update

CALGARY, March 26, 2013 /CNW/ - Raise Production Inc. (TSXV: RPC) ("Raise" or the "Company") is pleased to provide this update to its shareholders regarding its business development and outlook.

Raise's engineering group has continued its research & development initiatives on its unique horizontal wellbore production system (the "System").  Considerable accelerated life testing has been completed on key components, design and configuration issues associated with bench testing are being overcome and the Company is currently engaged in manufacturing and assembly of its first proto-type System for deployment in a shallow light oil reservoir.  After detailed analysis of various reservoirs, Raise has targeted the Viking formation in Saskatchewan and Alberta as the zone for initial System deployment.

In its third quarter report for 2012, Raise stated it was planning to field test the System in the first quarter of 2013, but such testing was contingent on securing an industry partner.  Raise has ongoing discussions with various oil & gas industry participants, with a view to securing an initial test well for System deployment, but due to commercial and logistical issues the Company will not be able to install a System prior to the end of this quarter.  Raise is targeting to conclude an agreement with a partner and make its first installation in the second quarter of this year.

In the third quarter report of 2012, Raise announced it had made the strategic decision to commit its full efforts toward the development of the System.  Consistent with this, the Company is pleased to announce it has entered into an agreement with CJS Production Technologies Inc. ("CJS") to allow CJS exclusive distributorship rights to Raise's patented Activator Downhole Hydraulic Submersible Piston Pump ("HSP").  The agreement is for an initial five year term with renewal provisions.  CJS has agreed to purchase Raise's existing HSP inventory on a staged basis beginning in July of 2013 and ending in July 2014 and thereafter Raise will earn a royalty on each HSP unit sold by CJS.

Eric Laing, President and Chief Executive Officer of Raise, commenting on the progress of the business said, "I'm exceptionally proud that the Raise team has moved us so far in such a short time toward a working proto-type of our horizontal production system technology.  As with any R&D project there are ups and downs in technology development, but I am very impressed that in a little over a year we have gone from conceptual system drawings, through patent application and to now approach a product ready to put in the ground.  We are excited to go to the field after spring break-up and feel this technology can change the way industry manages its horizontal wellbores.  I look forward to commercialization of this System initially for the Viking and later this year after successful deployment of the proto-type proceeding with the continued expansion of the technology to fit deeper more prolific reservoirs."

About Raise Production Inc.

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

This news release contains certain forward-looking statements.  All statements, other than statements of historical fact, are forward looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from these anticipated in such statements.

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.

SOURCE: Raise Production Inc.

Eric Laing, President and Chief Executive Officer
E-mail: [email protected]

Susan Scullion, Chief Financial Officer
E-mail: [email protected]

Raise Production Inc.
2620-58^th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: [phone]
Web site at: www.raiseproduction.com