MCW Energy Group Announces Management Change and Not Proceeding With Acquisition of GeoPetro Resources Company

MCW Energy Group Limited (TSX VENTURE:MCW)(OTCQX:MCWEF) ("MCW"), a Canadian
holding company involved in fuel distribution and the creation of oil sands
extraction technology, announces the appointment of Mark Korb as Chief Financial
Officer to replace Karlo Vartan who has resigned to focus on other business
opportunities.


Mr. Korb has over 20-years experience with high-growth companies and is highly
experienced in taking startup operations to the next level. Mr. Korb serves as
the Chief Financial Officer or financial consultant of several companies. Mr.
Korb serves as the Chief Financial Officer of Caldera Pharmaceuticals, Inc., a
drug discovery and services company; Fluid Spirit Holdings, LLC, a brand
development and events coordinating company; and First South Africa Management,
a small cap private equity and financial consulting firm. Mr. Korb also acts as
the financial consultant to Propell Technologies, Inc, an oil and gas services
company with a unique environmentally friendly oil recovery enhancement
technology. From 2007 to 2009 Mr. Korb was the group chief financial officer and
director of Foodcorp, a multimillion dollar consumer goods company based in
South Africa. In his role as Chief Financial Officer, Mr. Korb delivered
operational and strategic leadership during a period of change including
mergers, acquisitions and organic growth. As a board director he cultivated
relationships with shareholders, bond holders, financial institutions, rating
agencies, and auditors. Mr. Korb was also responsible for leading the group IT
strategy and implementation and supervised 16 direct reports including 10
divisional financial directors. From 2001 to 2007 Mr. Korb was the group Chief
Financial Officer of First Lifestyle, initially a publicly traded company on the
Johannesburg Stock Exchange in South Africa which was then purchased by
management which included Mr. Korb. He anchored the full group financial
function with responsibility for mergers and acquisitions activity, successfully
leading the process whereby the Company was sold to Foodcorp mentioned above.


MCW also announces that it is not proceeding with the proposed acquisition of
GeoPetro Resources Company ("GeoPetro"), originally announced by MCW on March 1,
2103. On February 28, 2013, MCW and GeoPetro entered into a definitive merger
agreement whereby MCW had agreed, subject to the terms and conditions set forth
therein, to acquire GeoPetro. Completion of the transaction was contingent upon,
among other things, raising of certain funds by Geo-Petro prior to closing of
the transaction. Notwithstanding several extensions, Geo-Petro was unable to
secure the required funding and as such the transaction did not close and MCW
will not be proceeding with this transaction.


About MCW Energy Group:

MCW is focused on value creation as (i) a distributor of gasoline and diesel
fuels to service stations in Southern California for 75 years, having revenue in
the fiscal year ending August 31, 2011 of US$241.5 million, revenue of US$363.3
million for the fiscal year ending August 31, 2012, and revenue of US$431.9
million for the fiscal year ending August 31, 2013, and (ii) as a developer of
proprietary technology for the extraction of oil from oil sands at its first
field in Asphalt Ridge, Utah, USA. MCW's management team is comprised of
individuals who have extensive knowledge in both conventional and unconventional
oil and gas projects and production, as well as refinery and fuel distribution
experience.


The information in this news release includes certain information and statements
about management's view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based upon
assumptions that are subject to significant risks and uncertainties. Because of
these risks and uncertainties and as a result of a variety of factors, the
actual results, expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward looking statements.
Forward-looking statements in this news release, include, but are not limited to
the commercial viability of the technology and the extraction plant, economic
performance and future plans and objectives of MCW. Any number of important
factors could cause actual results to differ materially from these
forward-looking statements as well as future results. Although MCW believes that
the expectations reflected in forward looking statements are reasonable, they
can give no assurances that the expectations of any forward looking statements
will prove to be correct. Except as required by law, MCW disclaims any intention
and assumes no obligation to update or revise any forward looking statements to
reflect actual results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such forward looking
statements or otherwise.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MCW Energy Group
Paul Davey, Communications
1 [phone] x 3 or Cell: 1 [phone]
[e-mail]
www.mcwenergygroup.com