Renaissance Oil announces operations update

VANCOUVER, Dec. 14, 2017 /CNW/ - Renaissance Oil Corp. ("Renaissance" or the "Company") (TSX-V: ROE) is pleased to announce, in conjunction with its partner, LUKOIL, the Company has made progress on the work program for the Amatitlán block in Veracruz, Mexico:

• Completed the 5^th workover, with a high stimulation recompletion of an up-hole Chicontepec interval;
• Installed artificial lift system to the 5^th workover where oil production is improving to 75% of volume; and
• Drilling of Amatitlán 1649 is on schedule at 550 meters of 1,866 meters targeted total vertical depth.

Average production from the Company's 100% owned and operated blocks in Chiapas, Mexico, for November 2017, was approximately 1,684 boe/d, comprising 39% oil and 61% natural gas.  Average production in November 2017 is approximately 5% higher than October's estimated average production of 1,607 boe/d.

The Company is pleased to announce that, pursuant to the annual general meeting of December 6, 2017, Mr. Gordon Keep, Mr. Craig Steinke, Mr. Kevin Smith and Mr. Ian Telfer were elected to the board of directors of Renaissance.

Renaissance has become aware of some individuals attempting to defame the Company in Mexican tabloids with false accusations. Renaissance has commenced legal action against the perpetrators and is pursuing all legal options available to it.

Renaissance continues to make progress on its journey to become a major Mexican energy producer.

RENAISSANCE OIL CORP.

Per:
Craig Steinke
Chief Executive Officer

Abbreviations:

Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, without limitation, statements with respect to oil production improving to 75% and Renaissance continues to make progress on its journey to become a major Mexican energy producer. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Renaissance Oil Corp.