Tourmaline Oil Corp. Files Preliminary Prospectus for Initial Public Offering

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

CALGARY, ALBERTA -- (Marketwire - Oct. 13, 2010) - Tourmaline Oil Corp. ("Tourmaline") is pleased to announce that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with a proposed initial public offering of its common shares.

The underwriting syndicate for the offering is led by Peters & Co. Limited and includes FirstEnergy Capital Corp., Scotia Capital Inc., TD Securities Inc. and Cormark Securities Inc.

A copy of Tourmaline's preliminary prospectus which contains important information relating to the common shares will be available on the SEDAR website at www.sedar.com under Tourmaline's profile. The preliminary prospectus is subject to completion or amendment and there will not be any sale or any acceptance of an offer to buy the common shares until a receipt for the final prospectus has been issued. Completion of the offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.


About Tourmaline Oil Corp.

Tourmaline is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.



Forward-Looking Statements

This news release contains forward-looking information that involves known and unknown risks and uncertainties, most of which are beyond the control of Tourmaline, including, without limitation, those listed under "Risk Factors" and "Forward-Looking Statements" in Tourmaline's preliminary prospectus. Forward-looking information in this press release includes, but is not limited to, information concerning the proposed initial public offering, its completion and receipt of necessary approvals. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information. Accordingly, prospective investors should not place undue reliance on these forward-looking statements. These forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Tourmaline does not assume any obligation to update or revise them to reflect new events or circumstances.



For more information, please contact

Tourmaline Oil Corp.
Michael Rose
Chairman, President and Chief Executive Officer
(403) 266-5992
or
Tourmaline Oil Corp.
Brian Robinson
Vice President, Finance and Chief Financial Officer
(403) 767-3587
robinson@tourmalineoil.com
or
Tourmaline Oil Corp.
Scott Kirker
Secretary and General Counsel
(403) 767-3593
kirker@tourmalineoil.com
or
Tourmaline Oil Corp.
Suite 3700, 250 - 6th Avenue S.W.
Calgary, Alberta T2P 3H7
(403) 266-5992
(403) 266-5952 (FAX)
www.tourmalineoil.com