Effective May 14, 2014 Exall Energy Corporation signed an extension of its current $36.0 million loan facility to May 30, 2014 and an Indicative Term Sheet with its current Canadian debt facility provider for facilities through to April 30, 2015. Under the terms of Indicative Term Sheet Exall, as of May 30, 2014, will have its current Revolving Production Loan Facility reduced from $36.0 million to a Production Loan Facility of $21.0 million and a Term Loan Facility of $1.0 million. The Revolving Production Loan Facility will be subject to an interest rate of the then Lender's Prime Rate plus 220 basis points.

The Term Loan Facility will be subject to an interest rate of the then Lender's Prime Rate plus 300 basis points, and will be subject to principle payments of $83,333.33 per month commencing June 30, 2014.