POP

Petro One Energy Corp. (TSX VENTURE:POP)(PINKSHEETS:CUDBF)(FRANKFURT:C6K1)
announced on July 27, 2014 that it had arranged funding of up to $100,000,000
from Korea Myanmar Development Corporation ("KMDC") to drill up to 97 oil wells
on Petro One properties in Saskatchewan and Manitoba. It is now pleased to
report that the first step in that funding has been taken. 


KMDC was originally established with the support of the Korean Government to
secure and develop petroleum leases in Myanmar (formerly Burma) as part of a
program to develop enhanced economic relations between Korea and Myanmar across
a number of sectors. Under the guidance of Chairman Lee Young-Soo, KMDC recently
determined to seek opportunities in the Canadian oil patch. It was introduced to
Petro One and ultimately identified Petro One as its preferred candidate. The
Earning and Joint Venture Agreement was negotiated only after extensive due
diligence by legal and technical advisors to KMDC, including data due diligence
and property site inspections, all which was overseen by Petro One's Chief
Consulting Geologist, Trevor Bremner. Approximately 70 representatives of the
Korean Government, Korean business community and Korean press, including Korean
Television, attended the formal signing ceremony in Seoul, at which Petro One
was represented by its Chief Executive Officer and Chief Operating Officer. It
was made very clear in the speeches given by Government Officials and Chairman
Lee that they consider $100,000,000 in funding to be the first step in a longer
term, more comprehensive arrangement with Petro One.


"We are delighted to be embarking on this joint venture with a multinational
company of KMDC's calibre," said Petro One President Peter Bryant. "The KMDC
financing will fund an aggressive multi-well program designed to provide for
exponential growth through production on 8 of Petro One's properties.
Saskatchewan and Manitoba are ranked as two of the best geopolitically stable
places in the world to drill for shallow, light oil, and Petro One's land is
ideally located for low risk development drilling in or adjacent to
infrastructure and existing oil fields. We look forward to rapid growth and a
long and prosperous partnership with KMDC."


The pricing for the initial $4,000,000 private placement announced on July 28,
2014 was agreed to be set at the lowest "Discounted Market Price" of Petro One
shares occurring during the 20 day period following the second trading day after
the July 28, 2014 news release, subject to a minimum price of $0.25.
Accordingly, based on the closing price of the Company's shares on July 31,
2014, the financing has been priced at $0.25 per Unit. Each Unit is comprised of
one common share and one warrant, and each warrant will be exercisable at $0.375
for two years after closing, subject to accelerated exercise if the Company's
shares trade over $2.00 for a period of 10 consecutive trading days after four
months from the closing date. As a result, KMDC is obligated under the Agreement
to advance $14,000,000 for the drilling fund to bring the total initial Phase 1
investment to $18,000,000, and has the right to increase that by an additional
$82,000,000 in Phase 2.


The private placement and use of proceeds are described in more detail in the
Company's July 28, 2014 news release. All shares issued pursuant to the offering
and any shares issued pursuant to the exercise of warrants will be subject to a
four-month hold period from the closing date. Closing remains scheduled for
September 2, 2014, and the agreement with KMDC and the private placement remain
subject to acceptance by the TSXV. Aberdeen Gould Capital Markets Ltd. is acting
as the Company's Exempt Market Dealer in respect of the private placement, as
described in the July 28, 2014 news release.


The Company will report on further developments as they occur.

ON BEHALF OF THE BOARD

"Peter Bryant"

President & Director

To view photos of the formal signing ceremony with KMDC in Seoul, Korea July 28
2014, please visit Petro One Energy's homepage here:
http://www.petrooneenergy.com/main/index.php?page_id=132.


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. 


Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements or
information (collectively "forward-looking statements") within the meaning of
applicable securities legislation, including, but not limited to management's
assessment of future plans and operations, including: drilling plans and
potential locations; expected production levels; development plans; reserves
growth; production and operating sales and expenses; reservoir characteristics;
the results of applying certain operational development techniques; certain
economic factors; and capital expenditures. 


Forward looking statements are typically identified by words such as
"anticipate", "estimate", "expect", "forecast", "may", "will", "project" and
similar words suggesting future events or performance or may be identified by
reference to a future date. In addition, statements relating to oil and gas
reserves and resources are deemed to be forward-looking statements as they
involve the implied assessment, based on certain estimates and assumptions, that
the reserves or resources described, as the case may be, exist in the quantities
predicted or estimated and can be profitably produced in the future. With
respect to forward looking statements herein, the Company has made assumptions
regarding, among other things; future capital expenditure levels; future oil and
natural gas prices; ability to obtain equipment and services in a timely manner
to carry out development activities; ability to market oil and natural gas
successfully to current and new customers; the ability to obtain financing on
acceptable terms; and the ability to add production and reserves through
development and exploitation activities. Although the Company believes that the
expectations reflected in the forward-looking statements contained herein, and
the assumptions on which such forward-looking statements are made, are
reasonable, there can be no assurance that such expectations will prove to be
correct. Readers are cautioned not to place undue reliance on forward-looking
statements included herein, as there can be no assurance that the plans,
intentions or expectations upon which the forward-looking statements are based
will occur. By their nature, forward-looking statements involve numerous risks
and uncertainties that contribute to the possibility that the forward-looking
statements will not occur, which may cause the Company's actual performance and
financial results in future periods to differ materially from any estimates or
projections. The forward-looking statements contained herein are made as of the
date hereof. The Company does not undertake any obligation to, nor does it
intend to, publicly update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise. The forward-looking
statements contained herein are expressly qualified by this cautionary
statement. In addition, readers are cautioned that historical results are not
necessarily indicative of future performance.


FOR FURTHER INFORMATION PLEASE CONTACT: 
King James Capital Corporation
Jeff Stuart
Investor Relations
(604) 805-0375
jstuart@kingjamescapital.com


Petro One Energy Corp.
www.PetroOneEnergy.com
www.Twitter.com/PetroOneEnergy

Petro One Energy Corp. (TSXV:POP)
Historical Stock Chart
From Mar 2024 to Apr 2024

Petro One Energy Corp. (TSXV:POP)
Historical Stock Chart
From Apr 2023 to Apr 2024