DAY Ceridian HCM Holding Inc

Daylight Energy Ltd. ("Daylight" or the "Corporation") (TSX:DAY) is pleased to
announce that the holders of common shares of Daylight have approved the
proposed acquisition of Daylight by Sinopec International Petroleum Exploration
and Production Corporation ("SIPC") pursuant to a plan of arrangement under the
Business Corporations Act (Alberta) (the "Arrangement"). Under the Arrangement,
Daylight shareholders will receive $10.08 in cash for each common share of
Daylight. The Arrangement was approved by approximately 99.6% of the votes cast
by Daylight shareholders at the special meeting of securityholders held on
December 5, 2011. The closing of the Arrangement remains subject to receipt of
required regulatory approvals, the granting of the Final Order by the Court of
Queen's Bench of Alberta and the satisfaction or waiver of the other conditions
specified in the arrangement agreement among Daylight, SIPC and an indirect
wholly-owned subsidiary of SIPC entered into on October 9, 2011. 


The vote of the holders of Daylight's 6.25% series "D" convertible debentures
(the "Series D Debentures") was adjourned in order to provide such holders with
a further opportunity to vote their Series D Debentures in order to allow for
the Series D Debentures to participate in the Arrangement and receive a cash
payment of $1,110 per $1,000 principal amount of Series D Debentures, plus
accrued and unpaid interest to, but excluding, the closing date of the
Arrangement. In order to be included in the Arrangement, holders of at least 66
2/3% of the aggregate principal amount of the Series D Debentures must vote in
favour of the Arrangement. Immediately prior to today's securityholders'
meeting, holders of approximately 60.6% of the issued and outstanding Series D
Debentures had voted in favour of the Arrangement. The $1,110 cash payment per
Series D Debenture to be received by the holders of Series D Debentures pursuant
to the Arrangement represents the approximate undiscounted amount that would be
paid to holders of Series D Debentures if Daylight were to exercise its right to
redeem the Series D Debentures on January 1, 2013, being the earliest possible
date for the redemption of the Series D Debentures, at 105% of their principal
amount, plus the interest that would otherwise be payable to the holders of the
Series D Debentures during 2012. Approval of the Arrangement by the holders of
the Series D Debentures is not a condition to the completion of the Arrangement.


The adjourned meeting for the vote of the holders of Series D Debentures will be
held at 9:00 a.m. (Calgary time) on Thursday, December 15, 2011 at the offices
of Blake, Cassels & Graydon LLP, located at 35th Floor, Bankers Hall East Tower,
855 - 2nd Street S.W., Calgary, Alberta. Holders of Series D Debentures as of
the November 3, 2011 record date for the securityholder meeting may continue to
vote their Series D Debentures in the same manner as described in the
information circular and proxy statement of Daylight dated November 1, 2011 (the
"Circular"), a copy of which is available on Daylight's SEDAR profile at
www.sedar.com. A holder of Series D Debentures that has questions or requires
more information with regard to the voting of their Series D Debentures should
contact Daylight's proxy solicitation agent, Laurel Hill Advisory Group, at
416-304-0211, or at its North American toll-free number: 1-877-304-0211 or by
email at assistance@laurelhill.com.


As a result of the above-described adjournment, the application for the Final
Order of the Court of Queen's Bench of Alberta will now be made by Daylight on
December 15, 2011. The deadline for an interested party who desires to appear at
the hearing for the Final Order to serve Daylight with a notice of intention to
appear and related documents and information has been extended to 12:00 noon
(Calgary time) on December 13, 2011. Similarly, the deadline by which a
registered holder of Series D Debentures may provide a written notice of dissent
in respect of the Arrangement has been extended to 5:00 p.m. (Calgary time) on
December 13, 2011. The procedures relating to an interested party desiring to
appear at the hearing for the Final Order and the exercise of dissent rights for
holders of Series D Debentures are otherwise subject to the same requirements as
set forth in the Circular.


The requisite approval of the Arrangement from the holders of Daylight's 10%
series "C" convertible debentures (the "Series C Debentures") was not obtained.
As a result, the Series C Debentures will be excluded from the Arrangement and
will remain outstanding following closing of the Arrangement. Approval of the
Arrangement by the holders of the Series C Debentures is not a condition to the
completion of the Arrangement.


ABOUT DAYLIGHT ENERGY

Daylight is a growing intermediate oil and liquids rich natural gas producing
company with a high quality suite of resource play assets in Western Canada.
Daylight has approximately 213.5 million common shares currently outstanding
which trade on the TSX under the symbol "DAY". Daylight's Series C and Series D
Debentures also trade on the TSX under the symbols DAY.DB.C and DAY.DB.D,
respectively.


All amounts stated herein are in Canadian dollars.

ADVISORY:

Forward-Looking Information and Statements 

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking statements or
information. More particularly and without limitation, this press release
contains forward-looking statements and information concerning: the adjourned
meeting and anticipated receipt of required regulatory approvals and the Final
Order for the Arrangement; and the ability of Daylight and SIPC to satisfy the
other conditions to, and to complete, the Arrangement.


In respect of the forward-looking statements and information concerning the
anticipated completion of the proposed Arrangement, Daylight has provided such
in reliance on certain assumptions that it believes are reasonable at this time,
including assumptions as to the ability of the parties to receive, in a timely
manner, the necessary regulatory and other third party approvals, including but
not limited to approvals required to be obtained by SIPC from the Government of
The People's Republic of China and Investment Canada Act approval; and the
ability of the parties to satisfy, in a timely manner, the other conditions to
the closing of the Arrangement. These dates may change for a number of reasons,
including the inability to secure necessary regulatory or other third party
approvals in the time assumed or the need for additional time to satisfy the
other conditions to the completion of the Arrangement. Accordingly, readers
should not place undue reliance on the forward-looking statements and
information contained in this press release concerning these times.


Risks and uncertainties inherent in the nature of the Arrangement include the
failure of Daylight or SIPC to obtain necessary regulatory and other third party
approvals, or to otherwise satisfy the conditions to the Arrangement, in a
timely manner, or at all. Failure to so obtain such approvals, or the failure of
Daylight or SIPC to otherwise satisfy the conditions to the Arrangement, may
result in the Arrangement not being completed on the proposed terms, or at all.
In addition, the failure of Daylight to comply with the terms of the Arrangement
Agreement may result in Daylight being required to pay a non-completion or other
fee to SIPC, the result of which could have a material adverse effect on
Daylight's financial position and results of operations and its ability to fund
growth prospects and current operations.


Readers are cautioned that the foregoing list of factors is not exhaustive.
Additional information on other factors that could affect the operations or
financial results of Daylight are included in reports on file with applicable
securities regulatory authorities, including but not limited to: Daylight's
Annual Information Form for the year ended December 31, 2010, Daylight's Notice
of Annual General Meeting and Information Circular and Proxy Statement dated
April 14, 2011 and Daylight's Notice of Special Meeting and Information Circular
and Proxy Statement dated November 1, 2011, each of which may be accessed on
Daylight' SEDAR profile at www.sedar.com.


The forward-looking statements and information contained in this press release
are made as of the date hereof and Daylight 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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