Petro River Oil Announces Conference Call Following Annual Meeting of Shareholders

For Immediate Release

Petro River Oil Announces Conference Call Following Annual Meeting of Shareholders

New York, NY, September 19, 2016 – Petro River Oil (OTCBB: PTRC) (“Petro River” or “The Company”) will provide an update for shareholders on recent corporate events, including forward looking plans, immediately following the Company’s annual shareholder meeting on Tuesday, September 20 at 11:45am EDT. The presentation will be provided by Scot Cohen, the Chairman of the Board, and Stephen Brunner, President of Petro River.

Shareholders unable to attend the meeting in person have two options:

Online: An Webex audio webcast will be available at http://bit.ly/2d3Gije

Phone: Participants can dial number 1-415-655-0002 within the United States.

Messrs. Cohen and Brunner will provide an overview of the Company’s 2016 performance and provide a roadmap for future plans, including the Osage County, OK drilling program set to commence in November 2016. Interested parties can review the presentation here  http://petroriveroil.com/investor-relations/corporate-summary/

 

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California.  Petro River’s strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For further information, please contact:

Investor Relations
ir@petroriveroil.com 
(469) 828-3900

Petro River Oil Corp. Provides Corporate Update

FOR IMMEDIATE RELEASE

Petro River Oil Corp. Provides Corporate Update

Petro River Oil Accelerates Osage Drilling Program Based on Positive Seismic Reprocessing

NEW YORK, NY, August 15, 2016  Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) is pleased to provide an update on our ongoing corporate activities, as well as the development plans for our core acreage in Osage County described below.

A new corporate presentation has been made available concurrently with this press release and can be found at http://petroriveroil.com/investor-relations/corporate-presentation.

Core Assets:

The Pearsonia West Concession, Osage County, Oklahoma

The Pearsonia West Concession in Osage County, Oklahoma includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker fields.  These fields have produced in excess of 20 million barrels of oil through vertical well development and are adjacent to fields that have produced more than 300 million barrels of oil through vertical production since the early 1900s.

The Company recently reprocessed 35 square miles of 3-D seismic data, which defined 4,480 acres of structural closures containing Pennsylvanian channel and Mississippian chat formations.  As a result, Petro River and its operating partners have accelerated its plan to drill four wells in Fall 2016.  The program will test the first 1,610 acres of the defined structural closures, which have prospective resource potential of 2,500,000 barrels of oil.  Results are expected in November 2016.

We plan to acquire an additional 55 square miles of 3-D seismic in the southern portion of the concession in 2017. Upon success in the initial drilling phase, the Company anticipates providing scalable and repeatable vertical drilling opportunities within the concession.

“Osage County has been producing oil for over a century, and Petro River’s operating partners have successfully drilled more than 900 wells in Osage County near our Pearsonia West Concession”, commented Mr. Stephen Brunner, President of Petro River. “We are very optimistic, based on our 3-D seismic data, which is the basis for our accelerated four well program in the Fall 2016”, added Mr. Brunner.  Mr. Brunner, as former president of Constellation Energy from 2008 to 2014, was responsible for over 2000 wells in Osage County.

Larne Basin, Northern Ireland

As a result of historical political issues in Northern Ireland and poor imaging of seismic data (which have both been resolved), the Larne Basin remains the only Carboniferous Basin in Europe that is essentially untested for hydrocarbons.  Petro River owns a 9% direct working interest and a 3.2% indirect interest through its investment in Horizon Energy Partners, LLC (“Horizon Energy”) in both an onshore license (PL1/10) and offshore license (P2123), which together comprise about 130,000 acres and encompass the heart of the Larne Basin. Good reservoir quality was confirmed from prior drilling and the existence of hydrocarbon traps was evident from recently acquired 2-D seismic data.

As previously disclosed, Petro River announced that the analysis of its first exploratory well in Larne Basin – Woodburn Forest #1 – confirmed the presence of an active petroleum system. The discovery of thermogenic gas limits the risks associated with Petro River’s Larne Basin exploration program by providing further evidence of a mature source rock within the basin, and supports the Company’s prior estimates of prospective resources of more than 1 billion barrels of potential oil and gas equivalents across the license.

Carboniferous-sourced basins throughout Europe are, historically, very prolific. By fulfilling the current work program, the onshore license was extended for a five-year period, which affords ample time for the Company to work with Horizon Energy and other partners to develop Phase II of the exploration program.

Kern County, California

The Kern County Field was discovered in the early 1900’s and, to date, has produced in excess of 100 million barrels of oil and gas equivalents from numerous formations.  It is ideally located adjacent to one of the richest oil source kitchens in the world.  Within a 20-mile radius, over 10 billion barrels of oil have been produced and the area is home to four of the ten largest onshore oilfield discoveries in the United States.  The Kern County field is geologically complex and was historically developed primarily by small, competing companies without the benefit of modern seismic data.  Petro River’s management believes that acquiring a state-of-the-art, modern 3-D seismic survey of the field will reveal numerous undrilled opportunities, resulting in the discovery and production, through primary recovery alone, of up to an additional 36 million barrels of oil.  Significant exploratory potential also exists.

Petro River acquired a 13.75% direct working interest and an indirect interest through Horizon Energy’s acquisition of a 30% direct working interest in the Kern County Field.  The well depths range from 4,000-8,500 feet and the oil is light, in contrast to many of the ‘’heavy” oil fields nearby.  Extensive oil and gas infrastructure are in place.  This is a low-risk, uniquely situated opportunity with attractive economics and a profile that is highly sought after in the oil and gas industry.

Our plans for the remainder of 2016 and into 2017 is to process and interpret 3-D seismic survey and possibly drilling an initial test well in 2017.

Corporate Events

Company executives will be presenting the Pearsonia West drilling program at Enercom’s The Oil & Gas Conferenceâ 6:25pm EDT today in Denver, CO, which will be streamed live at http://www.theoilandgasconference.com/togc-webcast/ptrc/.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTC Pink: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California. Petro River’s strategy is to apply modern technology, such as 3-D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly reports on Form 10-Q, and other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For additional information about Petro River Oil, please visit http://petroriveroil.com/ or contact:

Investor Relations
ir@petroriveroil.com
telephone: (469) 828-3900

Petro River De-Risks Larne Basin with Discovery of Thermogenic Gas in Woodburn Forest #1-Well

Partners To Commence Phase II of Exploration Program

NEW YORK, NY – August 4, 2016 – Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) today announced that the analysis of its first exploratory well – Woodburn Forest #1 – located in Larne Basin, Northern Ireland, confirmed the presence of an active petroleum system in the Larne Basin. The drilling of the well detected background gas in the drilling fluid, and samples were sent to Applied Petroleum Technology UK Ltd (“APT”), an internationally-recognized consultancy with an independent geochemical laboratory in Oslo, Norway.

APT’s report determined that the gas was thermogenic, likely originating from deeper Carboniferous shales. The samples were similar to a gas sample from a producing gas field in Lancashire, England, just across the North Channel.

The discovery of thermogenic gas limits the risks associated with Petro River’s Larne Basin exploration program by providing further evidence of a mature source rock within the basin, and supports Petro River’s prior estimates of prospective resources of more than 1 billion barrels of potential oil and gas equivalents across the license. Carboniferous-sourced basins throughout Europe have historically been very prolific. By fulfilling the current work program, the onshore license has been extended for a five-year period, which affords ample time for the Company to work with Horizon Energy Partners, LLC (“Horizon Energy”) and other partners to develop Phase II of the exploration program, which includes the following:

Reprocess 2-D seismic data. The joint venture partners are currently reprocessing a closely-spaced 2-D grid of 1,100 line kilometers of offshore seismic data acquired in 2009.  When finalized, the reprocessing should provide clearer structural imaging within the Carboniferous, better trap definition in the Triassic and Permian and possibly show hydrocarbon indicators in the shallower formations. We intend to “shoot” several 2D tie lines which will tie the offshore and onshore data sets. Management estimates completion of 2-D seismic reprocessing by the end of October, 2016.

Reprocess 3-D seismic. A small 3-D survey in the area, originally acquired from a nearby salt storage project, may also be reprocessed during the next several months.

Evaluation of Offshore Drilling Program. The offshore portion of the basin does not contain surface basalts. As such, the seismic data quality is markedly better.  The next steps in the exploration effort may be acquisition of a new 3-D seismic or further exploratory drilling – funded either internally or through a farm-out transaction.

Background:

Petro River owns a 9% direct working interest and a 3.2% indirect interest through its investment in Horizon Energy in both an onshore license (PL1/10) and offshore license (P2123), which together comprise about 130,000 acres and encompass the heart of the Larne Basin. Good reservoir quality had been confirmed from prior drilling and the existence of hydrocarbon traps was evident from recently acquired 2-D seismic data.

In May, 2016, the Woodburn Forest #1 well commenced drilling.  The primary objective of the well for Petro River was to confirm the existence and maturity of the Carboniferous source rock for the conventional reservoirs, and the secondary objective was to test three potential hydrocarbon-bearing objective zones. The well reached total depth in mid-June 2016. The Carboniferous-aged shales were expected to be encountered at approximately 1,550 meters. Unexpectedly, the overlying Permian section thickened considerably and at 2,000 meters the well was still drilling in the basal Permian.  After stopping at 2,000 meters and conducting basic evaluation tests (electric logs, a check-shot survey, imaging tool, etc.) and assessing the information gained from these tests, the consensus decision was made not to drill deeper. As a result, the Carboniferous section was not directly evaluated.

During the drilling of the Woodburn Forest #1 well through the Permian section background gas shows were present in the drilling fluids. Samples were collected and analyzed by APT, who determined that the gas was thermogenic and originated from the Carboniferous.  The gas sample contained carbon isotopes from C-1 to C-6 and the maturity indicated it to be at the top of the gas window, implying a burial at the time of generation of approximately 4,000 meters and a temperature of approximately 150 degrees Centigrade. These results evidenced a mature source rock from which hydrocarbons have migrated, and therefore supports the existence of an active petroleum system in the Larne Basin.

Based on the new Woodburn Forest #1 well data, which furthers our understanding of the petroleum system, reservoir deposition, and trapping mechanisms, the Company believes that substantial progress has been made in moving the Larne Basin project toward eventual commerciality. This was the first exploration drilled in the Larne Basin in 45 years.

Historically, large basinal discoveries are found and developed only after thorough analysis of technical data derived from both seismic acquisition and drilling of wells. The Larne Basin continues to be a very attractive exploration opportunity based on technical merit, modest exploration costs, low political risk and excellent fiscal terms.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTC Pink: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California. Petro River’s strategy is to apply modern technology, such as 3D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

About: Horizon Energy Partners, LLC.

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets. The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies, and have advised large energy focused private equity funds and hedge funds. Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 30 years of senior executive experience in the upstream oil and gas industry, and, throughout his career, has been instrumental in the growth and success of several private E&P companies. Horizon Energy was formed to take advantage of the current depressed oil market and has identified and acquired a portfolio of highly attractive oil and gas assets. A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly reports on Form 10-Q, and other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For additional information about Petro River Oil, please visit http://petroriveroil.com/ or contact:

Mike Straka

Investor Relations

ir@petroriveroil.com

telephone: (469) 828-3900

Petro River Provides Update on Larne Basin

NEW YORK, NY — (June 17, 2016) – Petro River Oil Corp (PTRC) (“Petro River” or the “Company”) announced today that drilling has been completed at the Woodburn Forest-1 well in Larne Basin, Northern Ireland.

The well was drilled to a depth of 2,000 meters and encountered two conventional, porous sandstone reservoir intervals, the Triassic Sherwood and the Permian Collyhurst. As previously disclosed, our original objective was to reach the Carboniferous source rock at this depth, however the Permian section thickened considerably and the Carboniferous was not reached. A majority of the well participants supported drilling deeper, however several of the other well participants declined, and the decision was made to plug and abandon the well. Although our joint venture partners decided not to drill to the Carboniferous, we are encouraged by findings of thermogenic gas in the Collyhurst section. The presence of thermogenic gas supports our original assessment of the existence of hydrocarbon source rock in the Carboniferous and a viable petroleum system.

The Company will now work with our partners to incorporate the data from the Woodburn Forest-1 well into our basinal interpretation and focus on our next phase of development. Jamie Rector, Petro River’s Chief Geological Advisor, stated, “The Woodburn Forest-1 well confirmed a primary objective of showing the presence of thermogenic gas. Structural complexity, the absence of well control and modern seismic did not allow us to optimize the well location. Our next steps include reprocessing the existing 2D seismic in the offshore block and acquiring new seismic.”

“We made an incremental step in the right direction,” said Petro River president Stephen Brunner. “While we were unable to drill the well to the original target of the Carboniferous, the discovery of thermogenic gas is promising. We are encouraged and are moving forward in our efforts to explore the Larne Basin.”

About: Petro River Oil Corp.

Petro River Oil Corp. (PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California. Petro River’s strategy is to apply modern technology, such as 3D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

About: Horizon Energy Partners, LLC.

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets. The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies, and have advised large energy focused private equity funds and hedge funds. Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 30 years of senior executive experience in the upstream oil and gas industry, and, throughout his career, has been instrumental in the growth and success of several private E&P companies. Horizon Energy was formed to take advantage of the current depressed oil market and has identified and acquired a portfolio of highly attractive oil and gas assets. A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements. These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

Contact:

For further information, please contact:

Investor Relations
ir@petroriveroil.com
(469) 828-3900

Petro River Oil Announces Spudding of the Woodburn Forest-1 Test Well in Larne Basin, Northern Ireland

Petro River Oil Announces Spudding of the Woodburn Forest-1 Test Well in Larne Basin, Northern Ireland   

New York, New York – May 16, 2016. Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) is pleased to announce that Petro River UK Limited, its wholly owned subsidiary, has received notice regarding the commencement of drilling operations on the Woodburn Forest-1 Well in Larne Basin, Northern Ireland. Initial results are expected in July 2016.

The vertical well will be drilled to a depth of 2,000 meters (approximately 6,500 feet) to test the commercial viability of three conventional sandstone reservoir intervals, the Triassic Sherwood Sandstone, Lower Permian Sandstone and Carboniferous Sandstones. The P50 Prospective Resources have been estimated by our joint venture partners at 25 million barrels of oil within the Woodburn Forest prospect.

As previously disclosed, Petro River and Horizon Energy Partners, LLC (“Horizon Energy) collectively acquired a 25% working interest (9% and 16%, respectively), in approximately 130,000 gross acres of both onshore and offshore petroleum licenses in the Larne Basin. The Larne Basin has broad similarities to the highly prolific Carboniferous sourced East Irish Sea Basin to the southeast, which has produced over 200 million barrels of oil and 4 trillion cubic feet of natural gas.  The exploration of the Larne Basin, if successful, has the potential of being one of the largest, recent on-shore discoveries in Western Europe.

Stephen Brunner, President of Petro River commented, “The commencement of drilling operations at Larne Basin is a major milestone for the Company, its shareholders and working interest partners. Larne Basin remains one of the only Carboniferous basins in Europe that is untested for hydrocarbons.  As a micro-cap company today, we are excited to be a part of a project like this with such large potential.”

Brunner continued: “After we reach total depth, our teams will complete a comprehensive subsurface engineering study to fully analyze and evaluate each of the sandstone reservoir intervals.  Findings from this well, coupled with new 3-D seismic data to be acquired in the basin over subsurface prospects previously identified by recently collected 2-D seismic data will help define and high-grade potential locations for future wells. The success of this first pilot test well, and the data gained from it, should substantially increase the value of our exploration program and reduce future development risk in Larne Basin.”

Additional details of the Woodburn Forest-1 Well will be announced as they become available.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California.  Petro River’s strategy is to apply modern technology, such as 3D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.  For more information, please visit our website at www.petroriveroil.com.

About: Horizon Energy Partners, LLC.

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets.  The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies, and have advised large energy focused private equity funds and hedge funds.   Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 30 years of senior executive experience in the upstream oil and gas industry, and, throughout his career, has been instrumental in the growth and success of several private E&P companies.  Horizon Energy was formed to take advantage of the current depressed oil market and has identified and acquired a portfolio of highly attractive oil and gas assets.  A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

Forward-Looking Statements

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.  For further information, please contact:

Investor Relations
ir@petroriveroil.com
(469) 828-3900

 

 

 

Petro River Closes Horizon I Investments Acquisition and Provides Operations Update

New York, New York – May 4, 2016. Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) is pleased to announce that it has completed its acquisition of Horizon I Investments, LLC (“Horizon Investments”) in an all-stock transaction.

As previously disclosed, as a result of the closing, Petro River acquired $5.0 million in cash and receivables, and an indirect 20% membership interest in Horizon Energy Partners, LLC (“Horizon Energy”).

Stephen Brunner, president of Petro River said, “We are excited the deal closed as expected and that our active 2016 drilling and exploration plans are on track.  Petro River and Horizon Energy are a natural fit for one another since we’re both targeting conventional well projects that are economic even at today’s oil prices. We’re not shale producers – we’re returns driven and focused on vertical well drilling programs. Our exposure to Horizon Energy’s vast portfolio of conventional oil and gas projects is unique and a significant competitive advantage for our company.”

Brunner continued: “In 2016, Petro River intends to drill six low-risk conventional wells in Osage County, Oklahoma, participate in two low-risk conventional wells in Kern County, California, and drill one exploratory well in the Larne Basin, Northern Ireland – all of which are fully funded. The Larne Basin exploratory well is set to drill in June 2016 and is the nearest term catalyst for our company. “

Jonathan Rudney, president of Horizon Energy, said: “Horizon Energy was assembled because of the opportunities presented by the current low price commodity environment.  Although all the projects in our portfolio have varying risk profiles and development timelines, they all have material upside. The portfolio consists of only conventional opportunities and projects which target finding and development costs of less than $10.00 per barrel.”

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California.  Petro River’s strategy is to apply modern technology, such as 3D Seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.  For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.  For further information, please contact:

Investor Relations

ir@petroriveroil.com

(469) 828-3900

Petro River Oil Applies to List on NASDAQ Capital Market

For Immediate Release

Schedules Investor Conference Call for Thursday, April 21st

New York, NY, April 12, 2016- Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) has filed an application to list its common stock on The NASDAQ Capital Market ahead of several upcoming corporate events, including the drilling of an initial well in Northern Ireland’s Larne Basin in Spring 2016, and several wells in the Company’s development assets in Oklahoma and California later in the year.

“A NASDAQ listing is an important corporate objective for the Company,” said Scot Cohen, Executive Chairman of Petro River. “Petro River has made significant progress in recapitalizing the company, building a new management team and acquiring projects in prolific US and Western European basins over the last six months. Petro River’s strategy was highlighted in a recent article published on Seeking Alpha, and our Larne Basin asset has been analyzed by a leading oil and gas publication – Oil and Gas Journal. Listing on The NASDAQ Capital Market will allow Petro River to communicate this progress to a broader audience, attract institutional investors, and provide greater liquidity for our shareholders.”

The Company’s proposed listing on The NASDAQ Capital Market is subject to review by NASDAQ and is dependent upon the Company meeting all relevant quantitative and qualitative listing standards of NASDAQ. No assurance can be given that the Company’s application will be approved.

Petro River will host an investor and corporate update conference call on Thursday, April 21st at 10am EST, in which Mr. Cohen and Petro River President, Stephen Brunner, will present the Company’s strategy and provide an opportunity for Q&A with members of the media, investors and analysts. A copy of the Company’s corporate presentation will be posed on the Company’s website, located at www.petroriveroil.com.

Interested parties can join the conference call on April 21st at 10am EST by clicking the below link:

https://global.gotomeeting.com/join/193669573

Or dialing:

United States: +1 (571) 317-3122
Access Code: 193-669-573

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Kern County, California.  Petro River’s strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended. For further information, please contact:

Investor Relations
ir@petroriveroil.com
469-828-3900

Petro River Oil Corp. to Acquire a 13.75% Working Interest in Oil and Gas Leases located in southern Kern County, California

NEW YORK, NY, March 9, 2016– Petro River Oil Corp.  (OTCBB: PTRC) (“Petro River” or the “Company”), today announced that it closed its Asset Purchase and Sale and Exploration Agreement to acquire a 13.75% working interest in oil and gas leases located within the confines a large oil field in southern Kern County, California (the “Project”). Horizon Energy Partners, LLC (“Horizon Energy”) also purchased a 27.5% working interest in the Project. Petro River is currently a party to a conditional purchase agreement with Horizon I Investments, LLC to acquire a 20% interest in Horizon Energy. The acquisition is expected to close in April 2016.

The field within the Project area has historically produced large volumes of oil and gas for many decades. The Project is located close to one of the richest oil source kitchens in the world. In southern Kern County over 10 billion bbls of oil have been produced and the area is home to four of the ten largest onshore oilfield discoveries in the United States.

The Project is geologically complex and the participants intend to acquire a new, state-of-the-art, modern 3D seismic survey over the Project area.

Management Commentary

Stephen Brunner, President of Petro River, stated: “This acquisition is consistent with our strategy of acquiring valuable assets in the current oil market. This is a low-risk, uniquely situated opportunity with attractive economics and a profile, which is highly sought after in the oil and gas industry.”


About: Horizon Energy Partners, LLC

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets. The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies (including Royal Dutch Shell, Texaco, Burlington Resources and Pogo Producing), and have advised large energy focused private equity funds and hedge funds (including KKR, Riverstone Holdings, Silver Point Capital and the Carlyle Group). Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 30 years of senior executive experience in the upstream oil and gas industry, and, throughout his career, has been instrumental in the growth and success of several private E&P companies. Horizon Energy was formed to take advantage of the current depressed oil market and has identified and acquired a portfolio of highly attractive oil and gas assets. A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

About: Horizon I Investments, LLC

Horizon I Investments, LLC (“Horizon Investments”) is a Delaware limited liability company with approximately $5.0 million in cash and a 20% membership interest in Horizon Energy. On December 1, 2015, Petro River entered into a conditional purchase agreement to acquire 100% of Horizon Investments in an all-stock deal. The transaction is expected to close in April 2016. Investors should review Petro River’s filings with the Securities and Exchange Commission (“SEC”) for additional information regarding Petro River’s conditional purchase of Horizon Investments, including its Current Report on Form 8-K filed with the SEC on December 7, 2015.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California.  Petro River’s strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders. For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For further information, please contact:

Investor Relations
ir@petroriveroil.com
(469) 828-3900

Petro River Oil Corp. Provides Update on Horizon Energy Partners’ Farmout Agreement with California Resources Production Company

NEW YORK, NY, February 24, 2016 – Petro River Oil Corp. (OTC Pink: PTRC) (“Petro River” or the “Company”), today provided an update from Horizon Energy Partners, LLC (“Horizon Energy”) relating to a Farmout Agreement between Horizon Energy’s wholly owned subsidiary, Grapevine Energy, LLC (“Grapevine”) and California Resources Production Company (NYSE: CRC).  Petro River is currently party to a conditional purchase agreement with Horizon I Investments, LLC to acquire a 20% interest in Horizon Energy; the acquisition is expected to close in April 2016.

The Farmout Agreement offers Grapevine a 100% interest (subject to certain conditions) in a large acreage position in the southern San Joaquin Basin.  This basin contains several attractive exploration opportunities and was home to a significant oil discovery made in late 2014 (in the Stevens Sand).  Grapevine has also acquired exploration rights in this area from Chevron USA, Inc. and Aera Energy, LLC (a joint venture of ExxonMobil and Shell).

Beginning in March 2016, Grapevine will be conducting a new, 27 square mile 3-D seismic survey over the area to further delineate the discovery and provide higher quality imaging over the exploration prospects. The survey should be completed in late Q3 2016, and an initial well is planned to be drilled in Q4 2016.

The benefits from the Agreement, along with Grapevine’s other rights in the area, present a unique opportunity for Grapevine to discover and produce large quantities of “conventional” oil at finding and development costs less than $10/barrel.

Management Commentary.

Steven Brunner, President of Petro River, stated:
“Grapevine is a high-quality asset with a quality land package in a prolific oil producing basin which Horizon Energy’s management team was able to assemble. The Farmout Agreement with major oil companies is consistent with Petro River’s strategy to take advantage of the current low-price oil environment to acquire quality oil and gas assets not previously available to small exploration and development companies.”


 

About: Horizon Energy Partners, LLC.

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets.  The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies (including Royal Dutch Shell, Texaco, Burlington Resources and Pogo Producing), and have advised large energy focused private equity funds and hedge funds (including KKR, Riverstone Holdings, Silver Point Capital and the Carlyle Group).   Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 30 years of senior executive experience in the upstream oil and gas industry, and, throughout his career, has been instrumental in the growth and success of several private E&P companies.  Horizon Energy was formed to take advantage of the current depressed oil market and has identified and acquired a portfolio of highly attractive oil and gas assets.  A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

About: Horizon I Investments, LLC.

Horizon I Investments, LLC (“Horizon Investments”) is a Delaware limited liability company with approximately $5.0 million in cash and a 20% membership interest in Horizon Energy.  On December 1, 2015, Petro River entered into a conditional purchase agreement to acquire 100% of Horizon Investments in an all-stock deal.  The transaction is expected to close in April 2016.  Investors should review Petro River’s filings with the Securities and Exchange Commission (“SEC”) for additional information regarding Petro River’s conditional purchase of Horizon Investments, including its Current Report on Form 8-K filed with the SEC on December 7, 2015.

About: Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and Mountain View, California.  Petro River’s strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.  For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.  For further information, please contact:

Investor Relations
ir@petroriveroil.com
(469) 828-3900

2016 Corporate Update – PTRC

Petro River Oil Corp. Provides Corporate Update

NEW YORK, NY, February 9, 2016– Petro River Oil Corp.  (OTCBB: PTRC) (“Petro River” or the “Company”), is pleased to provide an update on our ongoing corporate activities, as well as the development plans for our core acreage in Osage County and our interest in several projects accessible through our pending acquisition of Horizon I Investments, LLC (“Horizon Investments”) described below.

A new corporate presentation has been made available concurrently with this press release and can be found at: http://petroriveroil.com/investor-relations/corporate-presentation/.

Petro River’s management team has taken proactive steps to enable the Company to take advantage of falling energy prices and has thus positioned the Company for growth in a wide range of price environments.

  1. Over the last several months, the Company has added key members to the management team, including, but not limited to, the addition of Stephen Brunner who joins Petro River as President and brings with him operational and technical expertise.
  1. Petro River successfully completed a one (1) for two hundred (200) reverse split of its issued and outstanding common stock and is applying to have its common stock listed on the NYSE MKT. The reverse split and up listing are intended to clean up legacy Company capital structure, and to give the Company access to a wider investor base with increased liquidity.
  1. Petro River also entered into a conditional purchase agreement with Horizon Investments to acquire approximately $5 million in cash and a 20% interest in Horizon Energy. Upon closing, the capital proceeds will be used to develop the Pearsonia West Concession and for additional direct participation in Horizon Energy’s projects.  Horizon Energy is a private exploration and development company with a highly prospective portfolio of assets and a management team with a proven track record of bringing projects from discovery through development. Petro River’s acquisition of Horizon Investments is anticipated to close in April 2016.
  1. Petro River acquired significant direct working interests in projects located in the Larne Basin in Northern Ireland (9%) and in Mountain View, California (13.75%), as described below.

When asked about Petro River’s corporate strategy and development plans moving forward, President Stephen Brunner commented,

“We view the current market as a historic opportunity to acquire prospective projects in the early portion of the yield curve.  The Company seeks low-cost entry into plays with high-probability outcomes and avoids costly, high-attention plays.  Domestically, we are focused on oil projects in historically prolific basins where we can leverage the expertise of our technical team to use modern 3D seismic technology to discover previously hidden hydrocarbon traps.  Internationally, we are focused on oil and natural gas exploration projects that have been de-risked using 3D seismic technology, which greatly enhances drilling success rates.  The common theme among our projects is risk mitigation through the acquisition, interpretation, or shooting of 3D seismic data and other modern technologies.  We will create shareholder value while minimizing dilution by partnering with industry-leaders with access to capital and additional technical expertise.  An example of this is our anticipated investment in Horizon Energy.”

On Petro River’s capital markets strategy, Executive Chairman Scot Cohen commented,

“As one of the largest shareholders in Petro River, I am always concerned about dilution and creating shareholder value.  Over the last year we have made great strides in shoring up our balance sheet by raising capital to develop and earn an interest in our projects, while remaining debt free.  We are in continuing dialogue with investors and potential industry partners about the development of our assets, which can be drilled profitably even at $30 per barrel oil prices.”

Summary of Core Assets:

The Pearsonia West Concession, Osage County, Oklahoma

The Pearsonia West Concession in Osage County, Oklahoma includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker fields.  These fields have produced in excess of 20 million barrels of oil through vertical well development.  The Company recently initiated the reprocessing of 36 square miles of proprietary 3-D seismic data acquired in two phases in 2007 and 2009.  The initial processing has indicated multiple structures with closures ranging from 120 to 1,000+ acres. The stacked and locally productive reservoirs include Arbuckle, Mississippian, Red Fork, Skinner and Marmaton deposits.  The new processing will allow for greater imaging of porosity developments within the carbonates and edge resolution of identified and undrilled Pennsylvanian shoe-string sand deposits.

The shallow (less than 3,000 feet) nature and low-risk drilling environment lends itself to economically profitable, vertical exploitation of resources at $30 per barrel oil prices.  The technical team working the asset has deep experience within the region, having drilled the highest performing wells of the past decade, including several which have opened new fields.

Petro River is currently developing a vertical drilling program on the Pearsonia West Concession, and has engaged several potential industry partners to participate in the drilling campaign.

Larne Basin, Northern Ireland

As a result of historical political issues in Northern Ireland and poor imaging of seismic data (which have both been resolved), the Larne Basin remains the only Carboniferous Basin in Europe that is essentially untested for hydrocarbons. Through long-standing industry contacts, both Horizon Energy and Petro River were offered the opportunity to participate on favorable terms in the exploration and development of the Larne Basin through working interests in two petroleum licenses (one onshore and one offshore) which together encompass the vast majority of the prospective Larne Basin, approximately 130,000 acres.

Petro River (through its respective, wholly-owned subsidiaries Petro River UK Limited) is participating for 9% working interests in the Larne Basin licenses. Horizon Energy has been offered a similar opportunity through its wholly-owned subsidiary, Horizon Energy Partners Limited, for 16% working interests in the Larne Basin licenses.

In 2011 and 2012, the then current licensees acquired 400 kilometers of new, proprietary 2-D seismic data which indicated numerous potential hydrocarbon traps which had heretofore not been seen. In June 2015, one of the current licensees drilled a test well to delineate a natural gas salt cavern storage project. The well encountered natural gas shows in the Permian, providing strong evidence for a viable source from the Carboniferous and an active petroleum system in the Larne Basin.  In 1971, Shell Oil drilled the only petroleum exploration well within the Basin. It was drilled off structure and failed to reach the Carboniferous, but encountered two high quality petroleum reservoirs, one in the Triassic and the other in the Permian. The Triassic reservoir (Sherwood) was also penetrated in the recently drilled salt cavern well, mentioned above, and exhibited excellent reservoir characteristics. The combination of these events indicates the presence of all the elements necessary for a successful hydrocarbon discovery in the Larne Basin.

The Larne Basin has broad similarities to the nearby, highly prolific Carboniferous sourced East Irish Sea Basin to the southeast, which has produced over 220 million barrels of oil and 4 trillion cubic feet of gas.

The initial well, the Woodburn Forest #1, is permitted and scheduled to commence drilling in early April, 2016. It will be drilled onshore to a depth of about 6,000 feet and will test the entire sequence of petroleum objectives, including the Carboniferous source. The cost of the well will be approximately $6 million. The well has prospective, un-risked, recoverable resources in excess of 30 million barrels of oil.

Following the drilling of the initial well, 3-D seismic data will be acquired over select areas within the onshore license to more definitively image the numerous prospects and leads that were identified and mapped using the current geological and geophysical data. The offshore license also has significant hydrocarbon potential which is currently being evaluated. The un-risked, potential recoverable resources for the entire Larne Basin are in excess of 1 billion barrels of oil.

The fiscal terms of the licenses are excellent and the political risk ranks near the lowest in the world.  In addition, there is good access to both infrastructure and favorable markets for both oil and natural gas.

Mountain View, California

The Mountain View Field was discovered in 1933 and to date has produced 91 million barrels of oil and 88 billion cubic feet of gas from about 600 wells and 12 discrete pools.  It is ideally located adjacent to one of the richest oil source kitchens in the world.  Within a 20-mile radius over 10 billion bbls of oil have been produced and the area is home to 4 of the 10 largest onshore oilfield discoveries in the United States.  The Mountain View field is geologically complex and was historically developed by many small, competing companies without the benefit of modern seismic data.  Horizon Energy’s management believes that acquiring a state-of-the-art, modern 3D seismic survey of the field will reveal numerous undrilled opportunities, resulting in the discovery and production, through primary recovery alone, of up to an additional 36 million barrels of oil.  Significant exploratory potential also exists.

Over the past five years, a group of former oil industry executives and geoscientists have assembled leases covering the heart of the Mountain View Field. Petro River intends to participate in a 13.75% direct working interest, with the deposit already funded. Horizon Energy also intends to participate in a 27.5% direct working interest.  The well depths range from 4,000-8,500 feet and the oil is light, in contrast to many of the ‘’heavy” oil fields nearby.  Extensive oil and gas infrastructure is in place.

This is a low-risk, uniquely situated opportunity with attractive economics and a profile which is highly sought after in the oil and gas industry.

Horizon Energy Asset Portfolio

Following the closing of the Horizon Investment transaction, expected to occur on April 30, 2016, Petro River will have an indirect working interest in several projects through its 20% investment in Horizon Energy.  Horizon Energy has an attractive portfolio of projects, including the Larne Basin in Northern Ireland, Mountain View and Grapevine in California, Dorset onshore/offshore in Southern England, and an offshore field in Denmark.  Horizon Energy is currently finalizing development plans on those assets, and details will be released later this year.

Investors should review Petro River’s filings with the SEC for additional information regarding Petro River’s conditional purchase of Horizon Investments, including its Current Report on Form 8-K filed with the SEC on December 7, 2015.

About Horizon Energy Partners, LLC

Horizon Energy is an oil and gas exploration and development company with a portfolio of domestic and international assets.  The majority of the funding for Horizon Energy has come from seasoned oil and gas industry professionals, including several former senior oil industry executives who have run both major and large independent oil and gas companies (including Royal Dutch Shell, Texaco, Burlington Resources and Pogo Producing), and have advised large energy focused private equity funds and hedge funds (including KKR, Riverstone Holdings, Silver Point Capital and the Carlyle Group).   Horizon Energy is managed by Jonathan Rudney; Mr. Rudney has over 30 years of senior executive experience in the upstream oil and gas industry and, throughout his career, has been instrumental in the growth and success of several private E&P companies.  Horizon Energy was formed to take advantage of the current depressed oil market by identifying and acquiring a portfolio of several highly attractive oil and gas assets.  A common theme underlying each project is the application of modern technology, such as the use of 3-D seismic data.

About Petro River Oil Corp.

Petro River Oil Corp. (OTCBB: PTRC) is an independent energy company with its core holdings in Northeast Oklahoma, the Larne Basin in Northern Ireland, and in Mountain View, California.  Petro River’s strategy is to apply modern technology, such as 3D seismic analysis to exploit hydrocarbon-prone resources in historically prolific plays and underexplored prospective basins to build reserves and to create value for the Company and its shareholders.  For more information, please visit our website at www.petroriveroil.com.

Forward-Looking Statements.

This news release contains forward-looking and other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward looking statements.  These forward looking statements, projections and statements are subject to change and could differ materially from final reported results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.  Petro River assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Petro River undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect to the matters discussed above. Readers should also carefully review the “Risk Factors” in Petro River’s annual report on Form 10-K, its quarterly report on Form 10-Q, and its other reports filed with the SEC under the Securities Exchange Act of 1934, as amended.

For further information, please contact:

Investor Relations

ir@petroriveroil.com

(469) 828-3900