Doxa Energy Ltd. announced that it recently entered into definitive agreements providing for its participation in three new conventional oil & gas exploration projects in southern Texas. Two of the projects are focused on the Queen City formation at depths above 6,000' subsurface in areas which historically produce oil, and the third project will be targeting gas/condensate production from the expanded Yegua formation on the Gulf Coast. Furthermore, operations for drilling and evaluating initial test wells on two of the projects commenced in the fourth quarter 2013 and are ongoing.

Each of the new projects offer potential for development wells. Additional details of all three projects will be released in the near future upon completion of ongoing operations and leasing efforts. Doxa's level of participation in the two Queen City projects vary from 15-20%, and is set at 4.5% in the Yegua formation test, subject to certain terms and conditions set fourth in the respective agreements.

Doxa reports as of this date, it has participated in twenty-nine new horizontal wells in the Mississippian Lime Play primarily with either SandRidge Exploration and Production, LLC or Chesapeake Operating Inc., both of Oklahoma City, Oklahoma as project operator. Also, as of this date, the company has another Mississippian well in the process of being drilled and/or completed, in addition to the two conventional wells described above. Acquisition of the above mentioned new projects, together with the recent sale of certain Mississippian project leases reflect Doxa management's decision to refocus significant effort from the Mississippian Play, where the company's net interests are relatively small in relation to average barrels per day of oil per well to much larger participation in oil prone conventional projects that have the potential to add substantially greater value to Doxa's asset base.

Doxa however still remains committed to continued participation in additional wells within its remaining acreage in the Mississippian Play, subject to lease terms and continued individual prospect evaluation.