PetroReal Energy Inc.
TSX VENTURE : PNI

May 29, 2009 10:54 ET

PetroReal Energy Inc. Provides Second Default Status Report and Notice of NI 51-101 Filings

CALGARY, ALBERTA--(Marketwire - May 29, 2009) - PetroReal Energy Inc. (TSX VENTURE:PNI) ("PetroReal" or the "Corporation") provides its second bi-weekly Default Status Report as per National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults. Since the first default status report announcement issued May 14, 2009, the Corporation reports that no material changes have occurred. The Corporation also reports the late filing of its first quarter ended March 31, 2009 financial statements, due for filing on May 31, 2009.

PetroReal continues to work with its auditors to complete the audit of the Corporation's financial statements for the year ended December 31, 2008 and first quarter ended March 31, 2009 as soon as possible. The Corporation intends to issue the next default status report on June 11, 2009 if the regulatory documents are not filed before this date. Until its financial disclosure is filed, the Corporation intends to continue to satisfy the Alternative Information Guidelines by issuing bi-weekly Default Status Reports, each of which will be issued in the form of a press release and filed on SEDAR at http://www.sedar.com.

The Corporation reports today's filings of its December 31, 2008 NI 51-101 F1, F2 and F3 reserve reports and other oil and gas information on SEDAR at http://www.sedar.com.

About PetroReal: PetroReal Energy Inc. is a Calgary, Alberta, Canada based emerging, TSX Venture Exchange listed company focused on the exploration, development and production of crude oil and natural gas, primarily in North America. The Company operations are located in central and southern Alberta, southwestern Saskatchewan in Canada and Louisiana in the United States.

Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Corporation's business is subject to various other risks and uncertainties, which may be described in its corporate filings on SEDAR at https://www.sedar.com. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Corporation cautions readers not to place reliance on such statements. PetroReal undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.

Neither 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

  • PetroReal Energy Inc.
    Ernst Schlotter
    Director, President and CEO
    (403) 269-2044
    (403) 269-2042 (FAX)
    Email: eschlotter@petroreal.ca
    or
    PetroReal Energy Inc.
    Suite 405, 505 - 8 Avenue S.W.
    Calgary, Alberta T2P 1G2
    Canada
    Website: www.petroreal.ca