KALLISTO PROVIDES CROSSFIELD WELL UPDATE

CALGARY, April 14 /CNW/ - Kallisto Energy Corp. (TSX Venture: KEC) ("Kallisto" or the "Company") is pleased to advise that the Company's operated Viking horizontal well, located at 15-7-028-01W5, has flowed for approximately 17 days under restricted conditions. Approximately 70% of the load propane has been recovered to date. In addition, during the flow-back period the well produced up to 1.2 mmcf per day of liquids-rich natural gas and up to 30 bbls per day of oil through the 4½ inch frac string. These are test rates and may not be representative of actual production rates as the final wellbore configuration must be designed and a production tubing string installed that provides for liquids lifting. Operations to reconfigure the well with production tubing and to install artificial lift will begin following the removal of local road bans. Actual production rates will not be known until the well has been reconfigured and placed on-stream.

The well is tied in to allow for propane conservation, which also allows for immediate revenue generation from the sale of natural gas and natural gas liquids. Oil is being stored in tanks on the lease and will be trucked to a sales terminal. Kallisto has a 65% working interest in the 15-7 well.

Kallisto is a Calgary-based junior resource company engaged in the exploration, development and production of oil and natural gas in Alberta.

Forward Looking Information

The reader is advised that some of the information contained herein may constitute forward looking statements within the meaning assigned by National Instrument 51-102 and other relevant securities legislation. It includes, but is not limited to, statements with respect to well production and performance and expected timing of well operations. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "scheduled", "potential", or other similar words, or statements that certain events or conditions "may", "should" or "could" occur.  Forward-looking information is based on the Company's expectations regarding its future growth, results of operations, production, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, plans for and results of drilling activity, environmental matters, business prospects and opportunities.  Such forward-looking information reflects management's current beliefs and assumptions and is based on information currently available to it.  The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information including risks associated with the impact of general economic conditions, industry conditions, governmental regulation, volatility of commodity prices, currency fluctuations, imprecision of reserve and resource estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the Corporation's ability to access sufficient capital from internal and external sources. Additional risks and uncertainties are described in the Company's Short Form Prospectus dated February 7, 2011 and Annual Information Form which are filed on SEDAR at www.sedar.com.

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 release.

SOURCE Kallisto Energy Corp.

For further information:

Robyn Lore
President and Chief Executive Officer
Telephone: (403) 237-9996

Profil de l'entreprise

Kallisto Energy Corp.

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