Stream Announces First Quarter 2013 Results

Achieves Increases in Production, Revenues and Net Operating Income
CALGARY, April 29 , 2013 – Stream Oil & Gas Ltd. (TSX-V: SKO) (the “Company”) is pleased to report
its financial and operating results for the three months ended February 28, 2013.
Q1 2013 Summary of Results
Three Months Ended
February 28, February 29,
(US$000s, except as noted) 2013 2012*
Financial
Revenue 8,195 4,846
Net operating income 4,958 3,426
Funds from (used in) operations 6,101 (2,276)
Net income (loss) after income taxes (255) (67)
Per share – basic & diluted 0.00 0.00
Additions to property & equipment and
exploration & evaluation assets 5,360 8,255
Operating
Average production (boed) 1,351 860
Average price ($/boed) 68.26 65.03
Netback ($/boed) 48.07 45.64
As at Feb. 28, 2013 Nov. 30, 2012
Cash and cash equivalents 547 2,632
Shareholders’ equity 26,829 26,946
Weighted average shares outstanding – basic (#) 66,637,801 66,147,801
* restated to reflect deferred income tax expense
Stream Oil & Gas Ltd.
#300, 609 -14th Street NW
Calgary, Alberta
T2N 2A1- 2 –
First Quarter Highlights:

Average net production was 1,351 net boed compared to 860 net boed in the first quarter 2012

Realized average net crude price was $68.26 per barrel, a 5% increase over $65.03 per barrel in the
same period of 2012

Revenue increased by 71% to $8.2 million compared to $4.8 million for the corresponding period in
2012

Net operating income increased to $5.0 million from $3.4 million in 2012

Surface facilities rehabilitation continued at the Cakran-Mollaj and Gorisht-Kocul fields with
commissioning activities expected throughout the second quarter of 2013

The Gorisht-Kocul field waterflood commercial pilot projects continued throughout the quarter,
inclusive of infrastructure rehabilitation in support of further expansion

A gas sales contract was executed for the purchase of up to 6.5 MMcf/d natural gas from the Delvina
gas field, which will be used for third-party generation of electricity in Albania. Stream related
construction for Phase One continued in support of the expected generation equipment start-up within
the second quarter

Preparations continued to restart Delvina gas production for generation feedstock within the second
quarter
Subsequent to Quarter-End:

Stream executed a $20.0 million prepayment agreement for crude oil sales with Trafigura Pte Ltd.
Outlook
Stream’s 2013 work plan incorporates two key elements: a) developing local operating capability; and b)
continued production growth. Consistent with its priority to reach sustained, previously demonstrated
production levels, Stream deliberately delayed its growth programs into the second half of the year in order
to provide a strong operating foundation. In addition, these deferrals allow better capital utilization as the
field campaign will benefit from incremental preparations combined with improved staffing experience and
levels.
During the second quarter, Stream will focus efforts on improving production operations processes including
the recruitment of associated expertise. The training of operating resources combined with incremental
foreign staffing efforts is forecast to shortly return Stream’s production to its prior demonstrated capacity.
Stream forecasts an aggressive execution of its 2013 work programs to commence mid-year and be
completed within 2013 as services and equipment are appropriately staged to allow efficient execution.
Management is committed to execute its 2013 growth program, subject to the availability of resources and
services. Additional details related to the Company’s 2013 program are available in the ‘Outlook’ section of
the first quarter 2013 Management’s Discussion and Analysis. – 3 –
The execution of the Company’s growth program, continued development of long-term export contracts and
strengthening of financial resources is expected to result in additional value to Stream and its shareholders.

energjia.al, 02.05.2013