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Athos Limited Acquires Additional Interest in Calvalley Petroleum Inc.

GENEVA, SWITZERLAND -- (Marketwire) -- 02/07/13 -- Athos Limited ("Athos") announces that is has ownership and control of 17,102,410 class A common shares ("Common Shares") of Calvalley Petroleum Inc. ("Calvalley") representing approximately 18% of the issued and outstanding Common Shares. Athos acquired 6,117,894 Common Shares on February 4, 2013 (trading date) through the previously announced distribution of assets upon the winding up of a private fund of which Athos was a part owner. The remaining 1,539,387 Common Shares were acquired on February 5, 2013 (trading date 2) when, as previously announced, Stefan Chaligne, Jean-Claude Chaligne and Maria Chaligne sold their individual holdings of Common Shares in Calvallley to Athos. The 1,539,387 Common Shares were purchased through the facilities of the Toronto Stock Exchange at a price of $2.06 per Common Share for aggregate cash consideration of approximately $3,171,137.22. The Common Shares of Calvalley were purchased by Athos for investment purposes.

Stefan Chaligne, Jean-Claude Chaligne and Maria Chaligne are beneficial owners of three corporations which are the only shareholders of a private corporation, which in turn is the sole shareholder of Athos. None of Stefan Chaligne, Jean-Claude Chaligne and Maria Chaligne are directors or shareholders of Athos. Each of Stefan Chaligne, Jean-Claude Chaligne and Maria Chaligne no longer individually hold any Common Shares in Calvalley due to the sale of their Common Shares to Athos.

For a copy of the early warning report to be filed in respect of the above transactions, please refer to the SEDAR profile of Calvalley or contact Athos Limited.

Athos Limited
P.O. Box 5259
CH - 1211 Geneva 11

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