Manitok Announces the Engagement of Colonial Advisory Services Inc. as an Advisor for Investor Relations Services

CALGARY, ALBERTA--(Marketwire - April 24, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to announce that it has engaged Colonial Advisory Services Inc. ("Colonial") to provide strategic investor relations and financial communication services (the "Engagement").

The Engagement is effective until July 24, 2012 and may be renewed annually thereafter. Colonial's mandate is to focus on providing investor relations advice to the Corporation, which may include preparing management presentations, coordinating and supporting the Corporation in preparing for industry conferences and institutional road shows and helping management effectively communicate the Corporation's strategy, opportunities, financial condition, operations and related matters to current shareholders and potential investors (collectively, the "Services").

The Engagement provides that the Corporation will pay Colonial a $5,000.00 monthly fee and pay for all reasonable costs and expenses incurred by Colonial in providing the Services.

Neither Colonial nor any of its partners currently holds any securities of Manitok and neither Colonial nor any of its partners has a right to acquire any securities of Manitok during the term of the Engagement. "We are delighted to have been selected by Manitok as their investor relations advisors and look forward to a long and successful relationship," noted Brent Peters, Managing Director of Investor Relations at Colonial.

Mass Geremia, President and CEO of Manitok, commented as follows: "The Manitok team is extremely excited to work with Colonial to increase our exposure to, and give us stronger representation in, the capital markets. This is the next step in our efforts to enhance shareholder value. With the recent sale of our heavy oil assets providing us the capital to commit to a continuous drill program for conventional Cardium oil in the central Alberta foothills, we believe that the timing is right to make an equally aggressive commitment to a rigorous investor relations program in order to ensure that the capital markets fully appreciate Manitok's value proposition. Given Colonial's understanding and enthusiasm for Manitok's long term plan to create shareholder value, we believe that their services will complement our current investor relations efforts and increase our ability to communicate our growth strategy to all categories of investors in today's markets."

About Manitok

Manitok is a public oil and gas exploration and development company focusing on conventional oil and natural gas reservoirs in the Canadian foothills. Manitok's corporate strategy is that of being an "early mover" in the exploitation phase of the development life cycle of hydrocarbon reserves in the Canadian foothills. The Corporation will continue to utilize its experience and expertise to develop the untapped conventional sweet light oil and liquids-rich natural gas pools in this large and under-exploited region of the Western Canadian Sedimentary Basin.

About Colonial

Colonial Advisory Services Inc. is an independent Canadian firm that provides investment banking and investor relations services for junior to midsize, private and public companies in the areas of oil and gas exploration and production, oil and gas services, junior mining exploration and production, mining services, independent power production and real estate.

Forward-looking Statements

This press release contains forward-looking statements. Such statements are subject to a number of risks and uncertainties. Although Manitok believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Manitok can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections relating to production, costs and expenses; and health, safety and environmental risks), uncertainty as to the availability of labour and services, commodity price and exchange rate fluctuations, unexpected adverse weather conditions and changes to existing laws and regulations. Certain of these risks are set out in more detail in Manitok's current Annual Information Form, which is available on Manitok's SEDAR profile at www.sedar.com.

Forward-looking statements are based on estimates and opinions of management of Manitok at the time the statements are presented. Manitok may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but Manitok undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.