AEC Anfield Energy Inc

Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC)
announces that it will not be proceeding with its previously announced purchase
and sale agreement with Magnum Energy Inc. (TSX VENTURE:MEN) relating to
Magnum's 50% operated working interest in the Provost area of Alberta (the
"Magnum Acquisition"). In addition, Artisan has withdrawn its short form
prospectus brokered financing.


Non-Brokered Convertible Debenture Private Placement

Artisan has agreed to undertake a non-brokered private placement of up to $5.0
million (the "Private Placement") of secured convertible debentures (the
"Convertible Debentures") with a group that has participated in both of the
Corporation's previous non-brokered common share private placements. The Private
Placement is scheduled to close on May 31, 2014.


The Convertible Debentures will have a term of 3 years from the date of closing
of the Private Placement, will bear an annual interest rate of 9% to be paid
quarterly and will be convertible into common shares of Artisan at $0.60 at any
time prior to expiry or redemption. Artisan may redeem the Convertible
Debentures without penalty at any time, however regardless of any such early
redemption Artisan will be committed to payment of a minimum of 18 months of
interest. Artisan may pay a cash commission of 6% on the gross value of
subscriptions introduced to the Corporation by eligible parties. The proceeds
from the Private Placement will be used to fund the Corporation's working
capital deficiency and to conduct some minor operations. Closing of the Private
Placement and issuance of the Convertible Debentures is subject to approval by
the TSXV.


Extension of Current Loan Facility

The Corporation has a loan facility, which is currently drawn to approximately
$3,740,000, from Tallinn Capital Corp. (the "Lender") and which was to have
matured on April 30, 2014 (the "Loan Facility"). The Corporation entered into a
commitment letter with the Lender to amend the Loan Facility. The key provisions
of the amendments include, but are not limited to, an extension of the maturity
date from April 30, 2014 to July 31, 2014. Conditional on closing the
non-brokered convertible debenture private placement, the Corporation expects a
further extension of the Loan Facility to December 31, 2014.


Additional Production Acquisitions

Based on feedback received while undertaking the short form prospectus financing
process with respect to funding the Magnum Acquisition, Artisan's management
believes that it will have a much greater likelihood of funding a strategic
acquisition that provides a larger production platform and greater upside
drilling potential. The Corporation is currently pursuing the acquisition of
various assets producing between 175 to 400 boe/d and is in ongoing discussions
with parties regarding accessing the means to finance such acquisitions.


Marketing of Non-Core Assets for Disposition

Artisan has decided to formally market non-core assets in an effort to reduce
debt and make capital available for its core properties at Chip Lake and
Tomahawk, Alberta. Artisan plans to retain an agent that specializes in
marketing oil and gas assets to conduct the formal marketing of its non-core
assets.


Reserves and Corporate Direction Update

Artisan anticipates that it will release its December 31, 2013 reserves update
on or before April 30, 2014. The updated reserves information will include an
evaluation of Artisan's second and third horizontal Belly River light oil wells
on its Ferrybank Assets, plus for the first time an evaluation of Artisan's
Tomahawk Wilrich liquids rich gas project which was recently successfully tested
in the 1- 20-52-7W5 vertical well.


Artisan's primary corporate focus will continue to be on funding its
developmental Rock Creek light oil horizontal drilling opportunities at Chip
Lake, Alberta and on strategically positioning and advancing its large-scale
Wilrich liquids rich gas property at Tomahawk, Alberta. Artisan will also
strategically look to expand its positions in these two core areas. In addition,
Artisan will be pursuing the acquisition of production platforms that either
complement Artisan's existing core assets or that are within Artisan's
management's core regions of experience within Alberta.


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 news release.


Advisory

This news release contains forward-looking statements and information
("forward-looking statements") within the meaning of applicable securities laws
relating to the Private Placement and the Corporation's proposed plans to
acquire additional producing assets and dispose of non- core assets. Readers are
cautioned to not place undue reliance on forward-looking statements. While
Artisan believes the expectations reflected in the forward-looking statements
are reasonable, actual results and developments may differ materially from those
contemplated by these statements depending on, among other things, the nature of
the capital and debt markets and factors beyond Artisan's control. The
forward-looking information contained in this news release is made as at the
date of this news release and Artisan does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws. Readers are urged to consider
these factors carefully in evaluating any forward-looking information.


Additional information on other factors that could affect Artisan's operations
and financial results are included in reports on file with Canadian securities
regulatory authorities and may be accessed through the SEDAR website
(www.sedar.com).


Where amounts are expressed on a barrel of oil equivalent ("boe") basis, natural
gas has been converted at a ratio of six thousand cubic feet to one boe. This
ratio is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the wellhead.
Boe's may be misleading, particularly if used in isolation.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Artisan Energy Corporation
Rick Ironside
President & CEO
(403) 984-9275
Rironside@artisanenergy.ca


Artisan Energy Corporation
John Bell
Vice-President Finance & CFO
(403) 984-9275
Jbell@artisanenergy.ca
www.artisanenergy.ca

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