Acadian Energy Inc.

August 05, 2011 10:26 ET

Acadian Energy Inc. Subject to Temporary Cease Trade Order

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2011) - Acadian Energy Inc. (TSX VENTURE:ACX) – (the "Corporation") announced today that a temporary cease trade order was issued by the Ontario Securities Commission on August 4, 2011 due to the fact that the Corporation failed to file the audited financial statements of Acadian Energy Holdings Inc. ("AEHI"), a wholly owned subsidiary of the Corporation, for the year ended December 31, 2010 and unaudited interim financial statements of the Corporation for three month period ended March 31, 2011, accompanying management's discussion and analysis, annual information form and related CEO and CFO certifications, as required by Ontario securities law (the "Required Filings"). The delay in filing the Required Filings is a result of the Corporation's recent qualifying transaction (the "Qualifying Transaction") with AEHI completed on March 16, 2011. The Qualifying Transaction was structured as a reverse takeover and as a result the year end of the Corporation should have been changed to December 31, being the year end for AEHI, in accordance with Section 4.10 of National Instrument 51-102.

Pursuant to the order, all trading in the securities of the Corporation, whether direct or indirect, shall cease. The Corporation intends to prepare and file the Required Filings on or before August 19, 2011 so that the order will lapse. If the Required Filings are made after August 19, 2011, an application must be made to revoke the order. Trading in the securities of the Corporation will resume once the order lapses or is revoked.

The Corporation is not subject to any insolvency proceedings at the present time. The Corporation confirms that there is no other material information relating to its affairs that has not been generally disclosed.

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

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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