Lone Pine Releases Second Quarter 2016 Results

CALGARY, AB -- (Marketwired) -- 08/30/16 -- Lone Pine Resources Canada Ltd. and Lone Pine Resources Inc. ("Lone Pine" or the "Company") are pleased to announce that the Company has issued the second quarter 2016 operating and financial results. Lone Pine's financial statements and Management's Discussion and Analysis ("MD&A") for the three and six months ended June 30, 2016 are available on the Company's website at www.lonepineresources.com.

About Lone Pine:

Lone Pine is a privately-held exploration and production company primarily focused on the development of western Canadian conventional oil and liquids plays that offer compelling economics across a variety of commodity price environments. The Company seeks to maintain high working interest and operatorship in its assets while maintaining a strong balance sheet and utilizing hedging to support returns. On June 24, 2016, Lone Pine and Arsenal Energy Inc. announced a proposed business combination that, if approved, will result in the formation of a new, publicly-traded entity operating under the name of "Prairie Provident Resources Inc." A Special Meeting of Lone Pine shareholders has been scheduled to vote on the transaction and other related matters on September 8, 2016 at 9:30am (Calgary time).

   Investor and Contact Information:Lone Pine Resources Canada Ltd. Tim Granger President and Chief Executive OfficerTel: (403) 292-8110 Email: [email protected]

Source: Lone Pine Resources Inc.

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