MONTREAL, QUEBEC–(Marketwired – July 7, 2016) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

British Controlled Oilfields Ltd. (“BCO”) announces that it will hold an annual and special meeting of shareholders on August 3, 2016. At the meeting, BCO shareholders will be asked to consider and, if thought fit, adopt a special resolution providing for (a) the voluntary liquidation of BCO pursuant to the Canada Business Corporations Act, through the distribution of its assets to its shareholders, after providing for outstanding liabilities, contingencies and costs of the liquidation, (b) the appointment of a liquidator if and when deemed appropriate by the board of directors of BCO, and (c) the ultimate dissolution of BCO upon completion of all liquidation steps which is not expected before December 31, 2017.

The proxy materials and the BCO’s audited annual financial statements for the financial year ended December 31, 2015 have been filed with the Canadian securities regulatory authorities and may be viewed at www.sedar.com.