Acadian Energy Inc.

July 29, 2011 16:42 ET

Acadian Energy Inc. Confirms Delay in Reporting of Interim Financial Results

TORONTO, ONTARIO--(Marketwire - July 29, 2011) - Acadian Energy Inc. (TSX VENTURE:ACX) – (the "Corporation") announced today that it will not be able to file its interim financial statements for the period ending May 31, 2011, its management's discussion and analysis relating to the financial statements, and the CEO and CFO certificates (collectively, the "Required Documents") by August 2, 2011 as required under securities laws.

The Corporation has applied for an order from the relevant Canadian securities regulatory authorities for a management cease trade order ("MCTO") as provided for in National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") which prohibits trading in securities of the Corporation by certain insiders of the Corporation. The granting of an MCTO is at the discretion of the Canadians securities regulatory authorities and there is no assurance that an order will be granted.

The delay in filing the Required Documents is a result of the Corporation's recent qualifying transaction (the "Qualifying Transaction") with Acadian Energy Holdings Inc. ("AEHI") completed on March 16, 2011. The Qualifying Transaction was structured as a reverse takeover. Following the completion of the Qualifying Transaction, the Applicant filed a Form 51-102 Notice of Change specifying that the resulting issuer would adopt a year end of August 31.

The Applicant was recently advised that because the qualifying transaction was structured as a reverse takeover, the year-end should have been changed to December 31, the year end for AEHI. As a result, insufficient opportunity was available for the necessary preparation and filing of the Required Documents.

An MCTO would not generally affect the abilities of persons who have not been directors, officers or insiders of the Corporation to trade securities of the Corporation. The Corporation intends to satisfy the provisions of the alternate information guidelines as set out in NP 12-203 for as long as the Corporation remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a press release.

There is no other material information concerning the affairs of the Corporation that has not been generally disclosed.

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 to expand the existing NI 51-101 compliant primary Gas Reserve value of US$32.4 million, (31/03/10) based on its existing 15,100 gross acres under lease. Not included in its reserve is any value from a Farmout Agreement for the exploration and development of 10,000 of those acres for shallow and limestone reef oil. Acadian has 6,044,905 shares basic outstanding, (8,309,518 fully diluted) and 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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