PetroShale Inc.
TSX VENTURE : PSH

August 19, 2013 16:15 ET

PetroShale Announces Asset Acquisition

DENVER, COLORADO--(Marketwired - Aug. 19, 2013) - PetroShale Inc. (TSX VENTURE:PSH) (the "Company") is pleased to announce, in partnership with Slawson Exploration Company, Inc. the execution of an agreement to purchase certain assets within the Stockyard Creek field, southern Williams County, North Dakota, from Samson Oil & Gas Limited for a purchase price of US$934,407 dollars.

The net asset, to the Company, consists of approximately a 5.5% working interest in 106 net leased Bakken and Three Fork acres in two overlapping 1280 acre drilling units in sections 13, 14, and 15 Township 154N Range 99W, an interest in the drilled, and yet to be completed, middle Bakken Sail & Anchor well as well as a share of the operating salt water gathering and disposal system. Upon completion of customary post-closing items, the assets acquired will be held by the Company's wholly owned subsidiary PetroShale (US) Land 1 LLC.

As part of the transaction Slawson Exploration Company, Inc. will take over operatorship and commence completion of the Sail & Anchor well and begin a planned drilling program with a dedicated rig, which will include an anticipated additional 3 to 4 (gross) wells drilled by year end 2013.

Evan Genaud, CEO and President of PetroShale Inc. stated, "We are very pleased to be partnering with operator Slawson Exploration Company, Inc. and Samson Oil & Gas Limited to develop the Bakken and Three Forks formation in the Stockyard Creek field. This transaction is an illustration of PetroShale (US)'s growth strategy in the Rocky Mountain region."

Neither the 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.

Note Regarding Forward-Looking Statements and Other Advisories

This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws relating to the Company's plans and other aspects of the Company's anticipated future operations, management focus, objectives, strategies and business opportunities, including expected 2013 drilling and development plans and the timing thereof. In addition, and without limiting the generality of the foregoing, this press release contains forward-looking information regarding the acquisition and the benefits to be acquired therefrom including drilling potential and the impact of the acquisition on the Company and its results and development plans. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. The forward-looking information is based on certain key expectations and assumptions made by the Company's management, including expectations and assumptions concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax laws; future production rates and estimates of operating costs; performance of existing and future wells; reserve and resource volumes; anticipated timing and results of capital expenditures; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the state of the economy and the exploration and production business; results of operations; performance; business prospects and opportunities; the availability and cost of financing, labor and services; the impact of increasing competition; ability to market oil and natural gas successfully; the Company's ability to access capital, obtaining the necessary regulatory approvals.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that the Company will derive there from. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide securityholders with a more complete perspective on the Company's future operations and such information may not be appropriate for other purposes.

Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other factors that could affect our operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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