Brownstone Energy Partner Enters Into Drilling Contract With Noble Drilling to Drill Gabriella License, Offshore Israel

Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or the
"Company") is pleased to announce that further to its press release of June 13,
2012, Modiin Energy L.P. ("Modiin Energy"), on behalf of the Gabriella License
consortium, including Adira Energy Ltd. and Brownstone, has executed a detailed
drilling contract (the "Agreement") with Noble International Ltd ("Noble
Drilling"). The Agreement provides for the drilling of the Gabriella License
(the "License") by the Noble Homer Farrington semi-submersible rig prior to the
government regulated spud date of June 30, 2013. Jonathan Schroeder, the
Company's President, stated that, "Brownstone is pleased with the signing of the
Homer Farrington rig contract and is a fundamental key in moving forward on the
oil potential in offshore Israel. The Homer Farrington has drilled some of the
most successful discovery wells in the Eastern Mediterranean including
"Leviathan" offshore Israel and "Block 12" offshore Cyprus."


About the Gabriella License 

The Gabriella License is located approximately 10 kilometers northwest of Tel
Aviv, in the waters offshore Israel. The block covers an area of approximately
392 square kilometers (97,000 acres) and is in water depths that range from 100
meters on the east side of the block to just over 425 meters on the southwest
side of the block. Brownstone holds a 15% Working Interest in the Gabriella
License. On March 13, 2012, the Company announced it received an independent
resource report prepared by Netherland, Sewell & Associates, Inc. which included
a best estimate of 110.1 MMbbl of contingent oil on the Gabriella License on a
gross unrisked basis. Full resource report is available on SEDAR
(www.sedar.com). 


About Brownstone  

Brownstone Energy Inc. is a Canadian-based, energy focused company with direct
interests in oil and gas exploration projects, including varying interests in
three off-shore Israel concessions and in four Colombian blocks in the Llanos
basin, as well as other oil and gas interests worldwide. By owning and managing
a diversified portfolio of energy-based projects, Brownstone provides
shareholders with a unique energy alternative. For additional information,
please see Brownstone's website: www.brownstoneenergy.com.


Cautionary Statements

This news release contains forward-looking information and forward-looking
statements within the meaning of applicable securities laws (together,
"forward-looking information"). The use of any of the words "expect",
"anticipate", "continue", "estimate", "believe", "plans", "intends",
"confident", "may", "objective", "ongoing", "will", "project", "should" and
similar expressions are intended to identify forward-looking information.


The forward-looking information is based on certain key expectations and
assumptions made by the Company, including expectations and assumptions
concerning the operational results in Israel. Although the Company believes that
the expectations and assumptions on which the forward-looking information are
based are reasonable, undue reliance should not be placed on the forward-looking
information because the Company can give no assurance that they will prove to be
correct.


Since forward-looking information addresses future events and conditions, by its
very nature it involves inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the inherent risks involved in
the exploration and development of oil and gas properties, the uncertainties
involved in interpreting drilling results and other geological data,
uncertainties relating to fluctuating oil and gas prices, the possibility of
cost overruns or unanticipated costs and expenses and other factors including
unforeseen delays. Anticipated exploration and development plans relating to the
Company's properties are subject to change.


The foregoing list of assumptions, risks and uncertainties is not exhaustive.
The forward-looking information contained in this press release is made as of
the date hereof and Brownstone undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.
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