Petro Viking Energy Inc.

Petro Viking Energy Inc.

August 05, 2011 17:21 ET

Petro Viking to File Amended Interim Consolidated Financial Statements

CALGARY, ALBERTA--(Marketwire - Aug. 5, 2011) - Mr. Giovanni DeFrancesco, Vice President of Operations of Petro Viking Energy Inc. (TSX VENTURE:VIK) (the "Company"), announces that as a result of a continuous disclosure review initiated by the Alberta Securities Commission, (the "ASC"), the Company is issuing the following press release to clarify its disclosure.

Effective January 13, 2011 the Company began reporting its financial results in accordance with International Financial Reporting Standards ("IFRS"). As a result of the ASC review the Company will file amended financial statements for the three months ended March 31, 2011 in order to comply with IFRS. The interim consolidated financial statements for the three month period ended March 31, 2011, as filed on SEDAR on June 29, 2011, have been amended to incorporate an Opening Statement of Financial Position at January 13, 2010. In addition, Note 1 to the interim consolidated financial statements has been revised to clarify that the Company's transition date to IFRS is January 13, 2010, its incorporation date. There were no changes to Petro Viking's financial results as previously reported for the period ended March 31, 2011 and the comparable period ended March 31, 2010.

The financial statements will replace and supersede the previously filed interim consolidated financial statements for the three months ended March 31, 2011.

The TSX-V has neither approved nor disapproved the contents of this press release.

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.

Contact Information

  • Petro Viking Energy Inc.
    Mr. Giovanni DeFrancesco
    VP Operations
    (403) 592-6257
    (403) 265-4011 (FAX)

    Petro Viking Energy Inc.
    200, 744 4th Avenue SW
    Calgary, Alberta T2P 3T4