LVL

Lynden Energy Corp. (TSX VENTURE:LVL) reports that the Company's wholly owned
subsidiary, Lynden USA Inc., has entered into a definitive agreement with
BreitBurn Energy Partners L.P. of Los Angeles, California, for the sale of the
Company's interest in 16 gross (7.0 net) Wolfberry Project wells and underlying
leases covering approximately 1,440 gross acres (630 acres net to Lynden) for
proceeds of US$25.0 million.


The sale will have an effective date of December 1, 2012, and is subject to
customary closing conditions, including completion of due diligence by the
buyer. The sale is expected to close in 2012. The purchase price will be subject
to customary closing adjustments for a transaction of this type.


The Company has a 43.75% working interest in the wells to be sold and a right to
earn a 43.75% working interest in the portion of the leases not already held by
production. The Company's working interest partner in the assets has also
entered into an agreement to sell its interest. The Company's net production,
after royalties, from the wells to be sold is approximately 20% of the Company's
production at December 1, 2012.


The sale is in line with the Company's stated objective to sell portions of its
proven acreage in order to manage its working capital position and to redeploy
funds to its less developed and unproven acreage, where the Company believes it
can achieve the best returns for shareholders.


The Company's current plans call for 43 gross (18.14 net) Wolfberry Project
wells to spud from July 1, 2012 to June 30, 2013 (fiscal 2013). The Company does
not expect its drilling plans to change materially as a result of the sale. 


The Company continues to believe that it will meet its forecasted December 31,
2012 net production exit rate, after royalties, of 900 - 1,000 boe/day.


The Wolfberry Project covers approximately 18,931 gross (16,979 net) acres,
equivalent to approximately 6,730 acres net to Lynden's working interest. 


About Lynden 

Lynden Energy Corp. is in the business of acquiring, exploring and developing
petroleum and natural gas rights and properties. The Company has various working
interests in the Wolfberry Project and Mitchell Ranch Project, located in the
Permian Basin in West Texas, USA.


ON BEHALF OF THE BOARD OF DIRECTORS

LYNDEN ENERGY CORP.

Colin Watt, President and CEO

NI 51-101 requires that we make the following disclosure: we use oil equivalents
(boe) to express quantities of natural gas and crude oil in a common unit. A
conversion ratio of 6 mcf of natural gas to 1 barrel of oil is used. Boe may be
misleading, particularly if used in isolation. The conversion ratio is based on
an energy equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead.


FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains
forward-looking statements. The reader is cautioned that assumptions used in the
preparation of such statements, although considered accurate at the time of
preparation, may prove incorrect, and the actual results may vary materially
from the statements made herein. Expectations of spudding 43 gross (18.14 net)
Wolfberry Project wells from July 1, 2012 to June 30, 2013 (fiscal 2013), and
expected timelines relating to oil and gas operations are subject to the
customary risks of the oil and gas industry, and are subject to the company
having sufficient cash to fund the drilling and completion of these wells.
Achieving a December 31, 2012 net production exit rate, after royalties, of 900
- 1,000 boe/day, is subject to the customary risks of the oil and gas industry
and is subject to the Company drilling and completing successful wells. For a
more detailed description of these risks, and others, see
www.lyndenenergy.com/riskfactors.html. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lynden Energy Corp.
(604) 629-2991
(604) 602-9311 (FAX)
www.lyndenenergy.com

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