PTRC Petro River Oil Corporation (CE)

Petro River Oil Corp (the "Company" or "Petro River") (OTCPK:PTRC) announces that the Company has determined not to pursue the reverse stock split of its common stock at this time as previously announced. The Company intends to revisit the issue of a reverse split in the future, and if in the best interests of the Company, would again seek shareholder approval to authorize such a split.

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.

The forward-looking statements contained in this news release are made as of the date of this news release. Petro River disclaims any intention and 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 of the matters discussed above.

CONTACT: Investor Relations:
         gary@petroriveroil.com
         212-596-7090
         www.petroriveroil.com