PetroReal Energy Inc.

October 17, 2008 13:35 ET

PetroReal Energy Inc. Receives ERCB Regulatory Approvals for Licensing

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2008) - PetroReal Energy Inc. (the "Corporation") (TSX VENTURE:PNI) announced today it has come into compliance with the ERCB and has completed the requirements under EUB Directive 067, schedule 1.Additionally, Kodiak Petroleum ULC was approved by the ERCB to act as the Residency Agent for the Company.

Ernst Schlotter President and CEO said: "We're very pleased that we have addressed all outstanding compliance issues for our non-producing assets, and we now have the regulatory approvals to develop these assets".

About PetroReal Energy, Inc.

The Corporation is a Calgary-based, emerging, TSX Venture Exchange listed company that is focused on exploration, development, and production of crude oil and natural gas, primarily in North America. The Corporation's operations are located in central and southern Alberta, southwestern Saskatchewan, and Louisiana in the USA.

Forward-Looking Statements

This news release contains statements about oil and gas production and operating activities that may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation as they involve the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions. Forward looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect the Company's operations or financial results, are included in the Company's reports on file with Canadian securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change unless otherwise required under securities law.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • PetroReal Energy Inc.
    Ernst Schlotter
    President and Chief Executive Officer
    (403) 269-2044
    (403) 269-2042 (FAX)
    PetroReal Energy Inc.
    Suite 460, 734 - 7th Ave S.W.
    Calgary, Alberta, T2P 3P8