Petro River Announces Update on New Osage Drilling Program

NEW YORK, April 9, 2019 /PRNewswire/ -- Petro River Oil Corp. (PTRC) ("Petro River" or the "Company"), an independent oil and gas exploration company that utilizes 3D seismic technology to discover and develop oil and gas reserves in proven oil and gas basins, is pleased to provide an update on the progress of its drilling program in Osage County, Oklahoma.

In March 2019, the Company successfully completed drilling the South Red Eagle 3-35 well located in the West Blackland field in Osage County. This is the first of ten wells the Company plans to drill in 2019. The Company currently expects that the next two wells will be drilled in April 2019. The Company will announce initial production rates following completion of these initial three wells.

"We are happy with the progress of our 2019 drilling program in Osage County. We look forward to further development of our domestic operations in Osage County, Oklahoma as well as Horizon Energy Partner's operations in Kern County, California, and the offshore projects in the North Sea, both Denmark and the United Kingdom," said Stephen Brunner, President of Petro River.

About Petro River Oil Corp (PTRC)

Petro River Oil Corp. (PTRC) is an independent energy company with core holdings in Osage County, Oklahoma. Petro River's strategy is to apply modern technology, including 3D Seismic analysis, to exploit hydrocarbon-prone resources in historically prolific plays and under-explored prospective basins to build reserves and to create value for the Company and its shareholders. Petro River owns a 14.52% equity interest in Horizon Energy Partners, LLC, and the Company's president, Stephen Brunner, is also a member of the Board of Managers of Horizon Energy Partners, LLC. For more information, please visit our website at http://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
[email protected]
Telephone: +1(469)-828-3900

SOURCE Petro River Oil Corp.