Bellatrix Exploration Ltd. (NYSE: BXE) announces that the Seoul, Korea-based company was not able to meet the remaining closing conditions required to close the previously announced Ferrier area Korean $300 million Cardium joint venture on May 31, 2013. Bellatrix has not extended the deadline for satisfying such conditions beyond May 31, 2013 and as a result Bellatrix will consider alternative joint venture partners for the proposed Ferrier area Cardium joint venture as well as continuing to consider other joint venture partners for the company's other interests in the Cardium resource play.

Raymond Smith, president and CEO, is returning from Seoul, Korea on Monday, June 3, 2013. A conference call to discuss the status of Bellatrix's Korean JV will be held on Tuesday, June 4, 2013 at 11:00 am MDT/1:00 pm EDT. To participate, please call toll-free 1-888-231-8191 or 647-427-7450. The conference call will also be recorded and available by calling 1-855-859-2056 or 403-451-9481 and entering passcode 88904051 followed by the pound sign.

Bellatrix Exploration Ltd. is a Western Canada-based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan.