QXP

Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the
"Company") is pleased to announce that it has entered into an arms-length
agreement (the "Letter of Intent" or "LOI") with an Alberta-based private oil
and gas exploration and production company to acquire certain oil and gas
interests in East Central Alberta.


The acquisition comprises of four production packages, currently producing more
than 580 boe/d (of which greater than 30% is oils and liquids), and developed
land of approximately 82,395 acres (net), undeveloped lands of 75,220 acres
(net) for a total of 157,615 acres (net) in East Central Alberta (the
"Acquisition"). Recent production is supported by a September 30th, 2012 Sproule
& Associates engineering report showing that the assets produced more than 650
boe/d of production in 2012 of which 230 boe/d were medium to light oil and
liquids.


Quattro will operate the majority of the assets being acquired and will own a
75% to 87% working interest in these conventional oil and gas fields in East
Central Alberta. The effective date of the Acquisition will be January 1st,
2013, with a purchase price of $7.3 million plus G.S.T. and customary closing
adjustments. The Acquisition is expected to close on or before April 29th, 2013
and is subject to completion of due diligence on or before April 15, 2013, the
execution of definitive documentation on or before April 22, 2013 (with industry
standard terms) and completion of financing which is anticipated to consist of a
mix of equity and debt.


Leonard Van Betuw, President & CEO of the Company, commented "We are very
pleased this acquisition is proceeding as proposed and we continue to pursue a
number of complementary acquisitions with the intention of establishing adequate
proven amounts of free cash flow in the first half of 2013 to support the
expansion of our operations both in Guatemala and domestically. The closing of
this acquisition will result in an average net production of 750 boe/d being
reported by the Company in first quarter ending March 31st, 2013 and a path
towards 2,000 boe/d later in 2013."


Summary of the Acquisition



Production:           580 boe/d Oil and Gas, with greater than 70 boe/d of  
                       shut in oil and gas                                  
Common Metrics:       $12,586 per flowing boe                               
Proven Reserves:      $3.05 per boe                                         
Facilities:           Established and operating with a high working         
                       interest, and excess capacity                        
Land:                 157,615 net acres; 82,395 acres developed and 75,220  
                       acres undeveloped                                    
Additional Potential: (i) optimization, (ii) work-over and (iii)            
                       developmental drilling opportunities, with up to 100%
                       interests in the Leduc, Viking and Mannville         
                       horizons, which will allow for the establishment of  
                       additional production to a total of more than 1,000  
                       boe/d.                                               



With this Acquisition, Quattro will be combining understood and established
production with a number of partially - developed conventional oil plays. The
Company will continue to build from its growing well-established core
competencies, which includes mapping conventional, shallow oil and gas trends
and the successfully implementation of shallow drilling and completion
techniques at low cost.


Proforma summary of Company post-Acquisition



Production 1st qtr. 2013: 750 boe/d Oil and Gas                             
Common Metrics:           $12,850 per flowing boe/d                         
Proven Reserves:          $ 3.15 per boe of Proven Reserves                 
Facilities:               Established and operating with a high working     
                           interest, and excess capacity                    
Land:                     240,675 net acres; 85,497 acres developed and     
                           155,178 acres undeveloped                        
Additional Potential:     (i) optimization, (ii) work-over, and (iii)       
                           developmental drilling opportunities, with up to 
                           100% interests in the Leduc, Viking, Wabiskaw and
                           Mannville horizons in Alberta and exploratory and
                           development opportunities in the Bakken,         
                           Birdbear, Shaunavon, Madison, Belly River and    
                           Milk River horizons, in Saskatchewan, which will 
                           allow for the establishment of further production
                           increases and provides the Company with an       
                           inventory of opportunities to grow production    
                           rates to 2,000 boe/d in 2013, subject to         
                           developmental success and access to financing.   



The Company`s engineering and execution of its organic business plan for 2013,
in conjunction with the closing of the central Alberta asset acquisition and the
cash-flow from the established producing assets, puts Quattro well on track to
meet its internal projections of achieving rates greater than 1,000 boe/d in the
quarter ending June 2013, subject to completion of financing.


The low risk material growth being established in Western Canada provides the
Company and shareholders the certainty that its production base will continue to
grow and add value within the context of its established business plan in Canada
and Central and South America.


About Quattro Exploration and Production Ltd.

Quattro Exploration and Production Ltd. will continue to focus on the
conventional exploration and development of oil and natural gas reserves in
Western Canada, primarily in south central Saskatchewan, with an expanding
presence in Alberta. Our core low risk production base will provide us the
capacity to aggressively pursue a series of high impact exploration and
development efforts in Central and South America. The company intends to balance
this portfolio of activities to assure its shareholders that it achieves
material growth in both reserves and production through execution of its
business plan.


This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the expectations
expressed in such forward looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward -looking
statements. Factors that could cause actual results to differ materially from
those in forward looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and those actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, Investors
should review the Company's registered filings which are available at
www.sedar.com.


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful. The
securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws.


BOE presentation:

Barrel ("bbl") of oil equivalent ("boe") amounts may be misleading particularly
if used in isolation. All boe conversions in this report are calculated using a
conversion of six thousand cubic feet of natural gas to one equivalent barrel of
oil (6 mcf=1 bbl) and is based on an energy conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
well head.


Trading in the securities of Quattro Exploration & Production Ltd. should be
considered highly speculative. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Quattro Exploration & Production
Leonard Van Betuw
President and Chief Executive Officer
(403) 984-3917 or Cell: (587) 228-7070
leonard@qxp-petro.com
www.qxp-petro.com

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