2012-09-14 22:10:22 -

Calgary, Alberta CANADA, September 14, 2012 /FSC/ - Petro Viking Energy Inc. (VIK - TSX Venture), ("Petro Viking") is pleased to announce that it is arranging a non brokered private placement in order to finance the acquisition of Block 1710A&B offshore Namibia as previously announced. The private placement will consist of units at a price of $0.175 per unit for a minimum of $2.5 million and a maximum of $3.0 million. Each unit will be comprised of one common share and one half warrant. Each full warrant will be exercisable for one common share at a price of $0.35 for a period of two years. Finders' fees will be payable as to 8% in cash and 6% in warrants. The

Company anticipates closing the Private Placement on or before September 30, 2012 in order to concurrently close the Namibia acquisition.

This Private Placement is subject to approval of the TSX Venture Exchange.

Further news will be announced as appropriate.

For further information, please contact:

Petro Viking Energy Inc.
200, 744 - 4th Avenue SW
Calgary, Alberta T2P 3T4
Telephone: (250) 558-9509
Facsimile: (403) 265-4011
Attention: Mr. Irvin Eisler, President & CEO

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.

Except for historical information contained herein, this news release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially. The Company may not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.


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