First Sales of Crude Oil from Badila Field

Caracal Announces First Sales of Crude Oil from Badila Field

CALGARY, March 24, 2014 /CNW/ - Caracal Energy Inc. ("Caracal" or the "Company
") (LSE:CRCL) today announced that the first shipment of Badila oil for export
sales has been loaded at the Kribi sea terminal offshore Cameroon. Total cargo
size of the lifting was approximately 950,000 barrels of oil, and Caracal's net
entitlement share was 560,000 barrels of oil. Caracal's partner, GlencoreXtrata
plc ("Glencore"), was entitled to the balance of the cargo. Caracal and
Glencore joint lift cargos, and Glencore markets the shipments on behalf of the
partners.

Ceremonies were held in Kribi and Douala to mark this significant event. In
addition to Caracal senior executives, also attending were high ranking
officials from the Republic of Chad, senior executives from Société des
Hydrocarbures du Tchad (SHT), the Chadian national oil company, COTCO, the
operator of the Kribi offshore terminal, and senior representatives of the
Pipeline Committee of Cameroon (CPSP).

Gross production from the Badila field during March has averaged 14,100 barrels
of oil per day (up from 12,000 bopd on 20 January 2014), and Caracal is on
schedule to expand the production processing and shipping facilities during Q3
of 2014.

About Caracal Energy Inc.
Caracal Energy Inc. is an international exploration and development company
focused on oil and gas exploration, development and production activities in
the Republic of Chad, Africa. In 2011, the Company entered into three
production sharing contracts ("PSCs") with the government of the Republic of
Chad. These PSCs provide exclusive rights, along with its partners, to explore
and develop reserves and resources over a combined area of 26,103 km2 in
southern Chad. The PSCs cover two world-class oil basins with oil discoveries,
and numerous exploration prospects.

The Company's shares trade on the London Stock Exchange under the symbol CRCL.

Cautionary Statements

This announcement contains certain forward-looking information and statements.
Forward-looking information typically contains statements with words such as
"intend", "target", "anticipate", "plan", "estimate", "expect", "potential",
"could", "will", or similar words suggesting future outcomes. Information
relating to reserves and resources is deemed to be forward-looking information,
as it involves the implied assessment, based on certain estimates and
assumptions, that the reserves and resources described exist in the quantities
predicted or estimated, and can be profitably produced in the future. The
Company cautions readers not to place undue reliance on forward-looking
information which by its nature is based on current expectations regarding
future events that involve a number of assumptions, inherent risks and
uncertainties, which could cause actual results to differ materially from those
anticipated by the Company. In addition, any forward-looking information is
made as of the date hereof, and each of the Company and its affiliates
expressly disclaim any obligation or undertaking to update, review or revise
such forward-looking information contained in this announcement to reflect any
change in its expectations or any change in events, conditions or circumstances
on which such information is based unless required to do so by applicable law.

Forward-looking information is not based on historical facts but rather on
current expectations and assumptions regarding, among other things, the timing
and scope of certain of the Company's operations and the timing and level of
production from the Company's properties, plans for and results of drilling
activity and testing programs, future capital and other expenditures (including
the amount, nature and sources of funding thereof), continued political
stability, and timely receipt of any necessary government or regulatory
approvals. Although the Company believes the expectations and assumptions
reflected in such forward-looking information are reasonable, they may prove to
be incorrect. Forward-looking information involves significant known and
unknown risks and uncertainties. A number of factors could cause actual results
to differ materially from those anticipated by the Company including, but not
limited to, risks associated with the oil and gas industry (e.g. operational
risks in exploration and production; inherent uncertainties in interpreting
geological data; changes in plans with respect to exploration or capital
expenditures; interruptions in operations together with any associated
insurance proceedings; reductions in production capacity, the uncertainty of
estimates and projections in relation to costs and expenses and health, safety
and environmental risks), the risk of commodity price and foreign exchange rate
fluctuations, the uncertainty associated with negotiating with foreign
governments, risk associated with international activity, including the risk of
political instability, the risk of adverse economic market conditions, the
actual results of marketing activities and the risk of regulatory changes.
Forward-looking information cannot be relied upon as a guide to future
performance. Well-test results are not necessarily indicative of long-term
performance or ultimate recovery.

SOURCE: Caracal Energy Inc.

For further information:

Caracal Energy Inc.
Gary Guidry, President and Chief Executive Officer
Trevor Peters, Chief Financial Officer
[phone]

Longview Communications - Canadian Media Enquiries
Alan Bayless [phone]
Joel Shaffer [phone]

FTI Consulting - UK Media Enquiries
Ben Brewerton / Ed Westropp
+ 44 (0) 207 8313 3113
[e-mail]

(CRCL)