Palisades Petroleum Corporation
PINK SHEETS : PAPT
FRANKFURT : 3X2

Palisades Petroleum Corporation

September 22, 2009 09:30 ET

Palisades Petroleum Announces the Appointment of a New President and CEO

RENO, NEVADA--(Marketwire - Sept. 22, 2009) - Palisades Petroleum Corporation (PINK SHEETS:PAPT)(FRANKFURT:3X2) is pleased to announce the appointment of a new President and CEO of the Company.

Leslie Rutledge, the former CEO of Palisades Petroleum, is pleased to announce that Richard Byrd has been appointed as the Chief Executive Officer of Palisades Petroleum.

Leslie Rutledge tendered her resignation at the same time that Richard was appointed to the position.

Leslie Rutledge further states, "Richard's expertise in the mining of base metals in addition to his knowledge in the oil industry was needed to bring Palisades forwards to the benefit of shareholders. Richard has an in-depth knowledge of our Guyanese property that will help in getting the proper infrastructure in place. I wish to thank all of our stakeholders for their support during my tenure. I am glad to see that the company is progressing rapidly in their endeavours which should bring fortune to us all."

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and seismic reports; the ability to close the acquisition of Oil and Gas exploration properties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Palisades Petroleum Corporation filings with the Pink Sheets LLC and may be accessed at www.pinksheets.com.

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