Western Plains

Brings Landrose Well on Production

and Announces Strategic Review

For Immediate Release

  February 10, 2012

CALGARY, ALBERTA – Western Plains Petroleum Ltd. (TSXV:WPP) (“Western Plains” or the “Company”) as an update to its news release of November 21, 2011, is pleased to announce that the test well (the “Test Well”) in the Landrose area of Sasktachewan, has been drilled, completed and placed on production.  Since being brought on production in late January 2012, the Test Well has produced at an average gross rate of 50 bbls/d of heavy oil. The Company currently has a net 15% interest (before payout) in the Test Well which will increase to a net 32.5% interest after payout. Alberta Star Development Corp. holds a 50% net interest in the Test Well, which the farmee, an arm’s length private limited partnership, holding a 35% net interest (before payout), which will convert to a 17.5% net interest after payout.  Western Plains is the operator of the Test Well.

The Test Well was drilled and completed in accordance with a farmout agreement under which the Company agreed to farmout its 50% net interest in the drilling spacing unit upon the farmee agreeing to fund the costs of drilling, completing and equipping the Test Well to earn a net 17.5% interest after payout (a net 35% interest before payout).

Strategic Alternatives Review

The Board of Directors of Western Plains has appointed a special committee comprised of Bill Koenig and Menno Wiebe with a mandate to undertake a process to evaluate the various strategic alternatives available to Western Plains with the goal of maximizing shareholder value. These alternatives may include, but are not limited to, the spinout of certain properties of Western Plains or other business combinations involving Western Plains.

No decision on any particular alternative has been reached at this time and there can be no assurance that the process will result in any change in Western Plains' current operations, nor that Western Plains will pursue any particular transaction or that any transaction will be concluded. Western Plains does not intend to make any further announcement regarding the strategic alternatives review unless and until its Board of Directors has approved a specific transaction, if any, or another course of action has been approved or the Board of Directors otherwise deems disclosure of developments is appropriate. The special committee may from time to time engage independent professional advisors as the special committee considers appropriate, including financial, technical, legal, communications and accounting advisors to assist with the strategic alternatives review.

About Western Plains Petroleum Ltd.

Western Plains is a Lloydminster, Alberta, based junior heavy oil producer with interests located in the Lloydminster area in both Saskatchewan and Alberta. The common shares of Western Plains trade on the TSX Venture Exchange under the symbol WPP.  For more information, please contact:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Reader Advisory

Certain information in this Press Release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Western Plains' beliefs, plans, expectations, anticipations, estimates and intentions, including the drilling and completion of wells, the earning of petroleum and natural gas interests through farm-in and farm-out arrangements, the success of future drilling and development activities, the performance of existing wells, the performance of new wells, general economic conditions, availability of required equipment and services and prevailing commodity prices. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this Press Release describes Western Plains' expectations as of the date of this Press Release.

Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events, risks arising from operations generally, changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations; reliance on contractual rights such as licenses and leases in the conduct of its business, reliance on third parties, reliance on key personnel, possible failure of the business model or business plan or the inability to implement the business model or business plan as planned, competition, environmental matters, and insurance or lack thereof.

Western Plains cautions that the foregoing list of material factors is not exhaustive, is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. When relying on Western Plains forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Western Plains has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events.

The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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