Acadian Energy Inc.
TSX VENTURE : ACX

November 08, 2011 18:18 ET

Acadian Energy Files Audited Financial Statements for Year End 2010, and Unaudited Financial Statements for Quarter 1, and Quarter 2, 2011

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2011) - Acadian Energy Inc. (TSX VENTURE:ACX) –– (the "Corporation") today announced the filing of financial statements for the following periods and the intention to file applications with the OSC and TSX Venture Exchange to rescind the cease trade order and suspension from trading imposed due to the non-filing of these statements. The Company filed audited statements for the year ended December 31, 2010 for the prior company called Acadian Energy Holdings Inc., and unaudited financial statements for the interim 3 and 6 month periods ending March 31, 2011 and June 30, 2011 for Acadian Energy Inc.

These results have been filed in IFRS with the year over year comparisons also in IFRS.

The delay in the filings resulted from the Qualifying Transaction the Company undertook between the previous public company York Ridge Lifetech Inc., and Acadian Energy Holdings Inc., on March 16, 2011. At that time, the Company had filed documents intending to use York Ridge's year end of August 30, 2011, but was subsequently informed that because the QT was considered a reverse takeover, the December 31, 2010 year end of Acadian Energy Holdings Inc. was required to be used. Management has spent the recent time to conduct the audit (prior to the period initially planned for), and the IFRS statements, and year earlier comparisons, for the new periods.

The Company is now on schedule to subsequently file its September 30, 2011 quarter end well before the end of November.

The filings and appropriate Management Discussion and Analysis are available on www. sedar.com.

Additional Company information is also obtainable on the Company's newly designed web site www.acadianenergy.com

About Acadian:

Acadian is a junior exploration and production company which is focused on the exploration and development of New Albany shale oil and natural gas in the Illinois Basin. The Company continues exploration development of the oil potential of the New Albany Shale. Acadian trades on the TSX Venture Exchange under the symbol ACX.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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