Forest Oil Provides Eagle Ford Shale Update, Announces Second Half 2012 Capital and Drilling Program, Estimated Second Quarter

Forest Oil Corporation

(Forest or the Company) today provided an update on its Eagle Ford Shale operations, and announced its second half 2012 capital and drilling program, estimated second quarter 2012 net sales volumes, and second half 2012 guidance. Eagle Ford Shale Update Since Forest's last operational update, three horizontal wells have been completed in the central fairway of the Company's Eagle Ford acreage position that had an average 24-hour maximum production rate of 787 Boe/d (96% oil). The first two wells had a 30-day average production rate of 535 Boe/d (95% oil), and the third well, which has been on production for 18 days, has averaged 616 Boe/d (94% oil).