CALGARY, ALBERTA--(Marketwire - Sept. 18, 2012) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce that it has completed its previously announced bought deal financing for gross proceeds of approximately $345 million. Pursuant to the offering, Bonavista, through a syndicate of underwriters co-led by TD Securities Inc. and CIBC World Markets Inc. and including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., National Bank Financial Inc., Peters & Co. Limited, FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd. and HSBC Securities (Canada) Inc., issued 20,930,000 common shares at a price of $16.50 per common share. This financing includes 2,730,000 common shares issued in connection with the exercise, in full, of the Underwriters' over-allotment option.

Bonavista is a mid-sized energy corporation with high quality oil and natural gas operations in western Canada and a strategy to deliver moderate growth and consistent dividends to its shareholders while maintaining financial strength and sustainability.

Bonavista's common shares trade on the Toronto Stock Exchange under the symbol BNP.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.