CALGARY, ALBERTA, Mar 05, 2013 (MARKETWIRE via COMTEX) —
PRD Energy Inc. (“PRD” or the “Company”)

/quotes/zigman/606718 CA:PRD
-4.76%


is
pleased to announce that it has been awarded the Sudbayern-Nord
Exploration License covering approximately 925,000 acres in Germany.
The license is located onshore in the state of Bavaria, Germany and
has been awarded to PRD Energy GmbH, a wholly-owned subsidiary of the
Company.

The Sudbayern-Nord is located in the state of Bavaria in the Molasse
Basin and provides the Company with geological and geographical
diversification within Germany. The Molasse Basin has a history of
significant petroleum discoveries and the Sudbayern-Nord licence has
a history of petroleum production within its boundaries. The
Sudbayern-Nord license is awarded for an initial period of five years
and includes all rights surface to basement. Pursuant to the terms of
the license, PRD is committed to bringing one well onto production
within the initial five year term. The award of this license is
subject to the review and approval by various municipal and state
government authorities in Germany.

PRD Energy GmbH has also applied for several other exploration and
production licenses in Germany on behalf of PRD, and anticipates
responses to these applications in the coming months.

About PRD Energy

PRD Energy Inc. is a Calgary based oil and gas company engaged in the
exploration, development and acquisition of, natural gas and crude
oil, principally in Europe. PRD’s common shares are listed on the TSX
Venture Exchange with the symbol “PRD”. All activities of the Company
in Germany are undertaken by its wholly-owned subsidiary, PRD Energy
GmbH.

Forward looking information

This news release contains forward-looking information relating
anticipated government approval of applications for exploration and
production licenses in Germany, proposed drilling pursuant to the
terms of the Sudbayern-Nord license, the likelihood of reserves
discoveries and petroleum production from the Sudbayern-Nord license
and other statements that are not historical facts. Such
forward-looking information is subject to important risks,
uncertainties and assumptions. The results or events predicated in
this forward-looking information may differ materially from actual
results or events. As a result, you are cautioned not to place undue
reliance on this forward-looking information.

Forward-looking information is based on certain factors and
assumptions regarding, among other things, the impact of increasing
competition; the general stability of the economic and political
environments in which the Company operates or owns interests; the
timely receipt of any required regulatory approvals; the ability of
the Company to obtain qualified staff, equipment and services in a
timely and cost efficient manner; drilling results; the ability to
operate in a safe, efficient and effective manner; the ability of the
Company to obtain financing on acceptable terms; field production
rates and decline rates; the ability to replace and expand oil and
natural gas reserves through acquisition, development of exploration;
the timing and costs of pipeline, storage and facility construction
and expansion and the ability of the Company to secure adequate
product transportation; future oil and natural gas prices; currency,
exchange and interest rates; the regulatory framework regarding
royalties, taxes and environmental matters in the jurisdictions in
which the Company operates; and the ability of the Company to
successfully market its oil and natural gas products, and other
similar matters. While the Company considers these assumptions to be
reasonable based on information currently available to it, they may
prove to be incorrect.

Forward looking-information is subject to certain factors, including
risks and uncertainties that could cause actual results to differ
materially from what is currently expected. These factors include
risks associated with instability of the economic and political
environments in which the Company operates or owns interests, oil and
gas exploration, development, exploitation, production, marketing and
transportation, loss of markets, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates,
environmental risks, competition from other producers, inability to
retain drilling rigs and other services, incorrect assessment of the
value of acquisitions, the inability to settle the definitive terms
of the farmout arrangements, failure to realize the anticipated
benefits of acquisitions, delays resulting from or inability to
obtain required regulatory approvals and ability to access sufficient
capital from internal and external sources, reliance on key
personnel, regulatory risks and delays, including risks relating to
the acquisition of necessary licenses and permits, environmental
risks and insurance risks.

You should not place undue importance on forward-looking information
and should not rely upon this information as of any other date. While
the Company may elect to, the Company is under no obligation and does
not undertake to update this information at any particular time,
except as required by law.

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.

        
        Contacts:
        PRD Energy Inc.
        Michael Greenwood
        Chairman and Chief Executive Officer
        (403) 234-0501
        
        PRD Energy Inc.
        Mark Hornett
        President and Chief Operating Officer
        (403) 234-0501
        
        PRD Energy Inc.
        Jeff Scott
        Chief Financial Officer and Vice President, Finance
        (403) 234-0501
        (403) 234-0511 (FAX)
        
        
        

SOURCE: PRD Energy Inc.

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