Petrichor Intends to Complete Equity Financing of Up to $4,550,000 at a Premium to Market

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Petrichor Energy Inc. (TSX VENTURE:PTP)(FRANKFURT:YQN) (the Company or PTP)
announces that it intends to complete a private placement for gross proceeds up
to $4,550,000 (the "Financing"), subject to acceptance by the TSX Venture
Exchange. These funds will be raised by the issuance of up to 13,000,000 Units
(the "Units") at a price of $0.35 per Unit (currently being a premium to the
Company's market price), each Unit consisting of one common share and one-half
share purchase warrant (the "Warrants"), each whole Warrant entitling the holder
thereof to purchase one additional common share, exercisable for a period of one
(1) year from the date of issuance at a price of $0.75 per share. 


Of the Units, 10,000,000 will be issued (as to 5,000,000 Units each) to two
strategic investors. Assuming the Financing is fully subscribed, a total of
44,001,329 common shares of the Company will be issued and outstanding, and
accordingly each of the two strategic investors will at that time become
Insiders of the Company. 


Proceeds raised from the Financing will be used to fund drilling and advancing
development of oil and gas wells on the Company's assets towards commercial
production, and for general working capital. 


The Company may pay finders' fees in connection with the Financing in accordance
with the rules and policies of the TSX Venture Exchange. 


One Insider of the Company has indirectly subscribed for a total of 500,000
Units from the Financing, and accordingly that related party may acquire up to
an additional 750,000 common shares in the capital stock of the Company
(including shares that may be issued on exercise of warrants issued in
connection with this Financing), which will increase his pro rata shareholdings
in the Company (the "Related Party Transaction"). All of the independent
directors of the Company, acting in good faith, have determined that the fair
market value of the securities being issued and the consideration paid is
reasonable and, with the value of the Related Party Transaction being less than
25% of the Company's market capitalization, is exempt from the formal valuation
and minority shareholder approval requirements of the Ontario Securities
Commission's Rule 61-501. 


The Financing is expected to close on or about May 21, 2014, and is subject to
certain conditions, including, but not limited to, receipt of acceptance from
the TSX Venture Exchange.


ON BEHALF OF THE BOARD

Joe DeVries, Chief Executive Officer

The securities referred to in this news release have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements.


This news release does not constitute an offer for sale of securities for sale,
nor a solicitation for offers to buy any securities. Any public offering of
securities in the United States must be made by means of a prospectus containing
detailed information about the company and management, as well as financial
statements.


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Petrichor Energy Inc.
Joe DeVries
Chief Executive Officer
(604) 336-8615
(604) 718-2808 (FAX)
www.petrichorenergy.com

Petrichor Energy (TSXV:PTP)
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