Yangarra Resources Ltd. announced earnings and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported net loss before tax of CAD 393,286 against 983,334 a year ago. Net loss was CAD 259,424 against CAD 983,334 a year ago. Funds flow from operating activities was CAD 4,814,183 or CAD 0.04 per basic and diluted share against CAD 5,146,554 or CAD 0.04 per basic and diluted share a year ago. Cash from operating activities was CAD 4,452,879 against CAD 1,937,376 a year ago. Total sales were CAD 7,318,137 against CAD 7,320,808 a year ago. Total revenue was CAD 4,871,561 against CAD 5,054,783 a year ago. Purchase of property and equipment were CAD 11,262,592 against CAD 24,448,531 a year ago. For the quarter, the company’s production was 1,809 boe/d (47% oil and NGL's) with production negatively impacted by 200 boe/d shut-in due to the drilling of new wells on existing pad sites.

Yangarra Resources Ltd. announced that the company's new Ferrier gas processing facility (100% working interest), constructed under budget and ahead of schedule, was put into service April 10, 2013. The company's facility is currently ramping up to its full capacity of 12 mmcf/d with six of eight standing wells now on-stream. Current company production is approximately 2,500 boe/d. The company has entered into an amended and restated credit facility agreement with Alberta Treasury Branches which will increase its credit facilities to $50 million. The company's credit facility was increased to $45 million immediately, with a further increase based on budgeted production levels in September 2013. The other terms of the Facility remain unchanged. The next scheduled review is May 31, 2014 and the current amount drawn on the facility is approximately $37 million. First quarter production is expected to average 1,800 boe/d, with approximately 200 boe/d shut in due to the drilling of new wells on existing pad sites. The company expected minimal capital expenditures during second quarter of 2013 with the contracted drilling rig racked for breakup.

Yangarra Resources Ltd. announced the appointment of Lorne Simpson, as Vice President, Operations. Most recently, Mr. Simpson held the position of Manager of Drilling and Completions at Yangarra. Prior to that Mr. Simpson was Supervisor, Drilling Operations with PetroBakken Energy Ltd. and has held various other senior level roles in his career.