EDMONTON, ALBERTA--(Marketwire - April 1, 2011) - PetroCorp Group Inc. (NEX BOARD:PCG.H) (the "Corporation") announced today that it has received from Powell Canada Inc. and affiliated companies (collectively, "Powell") a claim notice and indemnity notice pursuant to the Asset Purchase Agreements dated October 21, 2009 (the "APAs") and an Escrow Agreement dated December 15, 2009, whereby Powell is claiming indemnification pursuant to the APAs. The Corporation is reviewing the claim notice and indemnity notice provided by Powell and will provide a further update once the Corporation has determined its position with respect to these notices.
Contact Information: PetroCorp Group Inc.
Larry Patriquin
President & CEO
(780) 499-7662
or
PetroCorp Group Inc.
Randy Fries
Interim CFO
(780) 910-9436