FFM

Formation Fluid Management Inc. (TSX VENTURE:FFM) ("Formation Fluid" or "the
Company") announced today that further to its news release on April 20, 2012,
the Company has received a Statement of Claim from Maple Leaf Development
Corporation ("Maple Leaf") commencing legal action in the Court of Queen's Bench
Alberta against the Company. Maple Leaf alleges that the Company has breached an
agreement between the Company and Maple Leaf granting Maple Leaf the right,
subject to their ability to provide competitive manufacturing services to the
Company, to be the single source manufacturer and supplier of a mobile-produced
water processing plant.


Maple Leaf is claiming it has suffered damages in the amount of $2,400,000 for
loss of profit due to the alleged breach of the agreement by the Company. In
addition, Maple Leaf is seeking an interim or permanent injunction to prevent
the Company from manufacturing or causing to be manufactured the mobile-produced
water processing plant itself. 


The Company is currently reviewing the Statement of Claim and intends to
vigorously defend the allegations. The Company is of the view that the
allegations of Maple Leaf are wholly without merit and that Maple Leaf was given
the opportunity to provide the manufacturing services in question. The Company
believes that, in proceeding to manufacture the plant itself, it has complied
with the terms of the agreement.


In light of these recent developments, the Company has determined that at this
time it will not proceed with its previously announced non-brokered private
placement of up to 15,000,000 units.


About Formation Fluids

Formation Fluid Technology has developed a waste water treatment plant that uses
a proprietary process to clean waste water. The system is mobile and can be
scaled to process required volumes. This system treats water to meet or exceed
CCME Guidelines (Canadian Environmental Quality Guidelines), resulting in
reusable water that can be used for: Boilers, Frac Water, Water Floods, and
Drilling Operations. Formation Fluids is seeking to service a significantly
underdeveloped segment within the oil and gas industry; its waste water
treatment system is intended to cost effectively deal with produced water while
satisfying the need to reuse and recycle an increasing valuable resource. For
more information, please visit: www.formationfluid.com or contact Investor
Relations at (403) 887-8874.


On behalf of the Board of Directors.

Wayne Smith, Chief Financial Officer

FORWARD LOOKING INFORMATION

Certain information in this news 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 the Company's beliefs, plans, expectations,
anticipations, estimates and intentions. 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
news release describes the Company's expectations as of the date of this news
release.


The results or events anticipated or predicted in such forward-looking
information may differ materially from actual results or events. Material
factors which could cause actual results or events to differ materially from
such forward-looking information include, among others, risks arising from
reliance on contractual rights such as licenses and leases in the conduct of its
business, reliance on key personnel and insurance or lack thereof.


The Company cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking information to make
decisions, investors and others should carefully consider the foregoing factors
and other uncertainties and potential events. The Company 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.
However, the list of these factors is not exhaustive and is subject to change
and there can be no assurance that such assumptions will reflect the actual
outcome of such items or factors.


THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

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