Raging River Exploration Inc. has entered into a definitive agreement to acquire Anegada Energy Corp., a privately held corporation with 2,750 boe/d of high quality Viking light oil assets that are complementary to Raging River's existing Viking assets in southwestern Saskatchewan and southeastern Alberta.

Raging River also announces that the Company's board of directors has approved a 2016 capital budget of $190 million. The combination of the Acquisition and budgeted capital expenditures is expected to result in year over year production per share growth of 19% in 2016. This growth is expected to be accomplished while continuing to align capital expenditures with forecast cashflow and maintaining the balance sheet at 0.9 times debt to trailing cashflow at a US$42.50/bbl WTI oil forecast.

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