PRESS RELEASE - PETRO OCCIDENTE CAPITAL CORP.

CALGARY, May 13 /CNW/ -- 
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES


CALGARY, May 13 /CNW/ - Petro Occidente Capital Corp. ("Petro Occidente"), a capital pool company, is pleased to announce that it has received
 final listing approval for its common shares from the TSX Venture
 Exchange (the "Exchange") and on May 12, 2011, closed its initial public offering of 2,500,000
 common shares at $0.10 per share for aggregate gross proceeds of
 $250,000 through Macquarie Private Wealth Inc. ("Macquarie"), which acted as agent for Petro Occidente on the offering.  Petro
 Occidente expects that trading of its common shares will commence on
 May 13, 2011 under the symbol "OPP.P".


Upon closing of the offering, Petro Occidente granted 1,050,000
 incentive stock options to its directors and officers which are
 exercisable within ten years from the date of grant at an exercise
 price of $0.10 per share.  In addition, Petro Occidente granted an
 aggregate of 250,000 options to Macquarie, which are exercisable 24
 months from the date of listing of the common shares on the Exchange,
 at an exercise price of $0.10 per share.  As a result of the closing of
 its initial public offering, Petro Occidente now has 10,500,000 common
 shares issued and outstanding (3,350,000 of which are subject to escrow
 restrictions).


Petro Occidente would like to thank Macquarie for the role that it
 played in the distribution of the initial public offering of Petro
 Occidente.


The only business of Petro Occidente is the identification and
 evaluation of assets or businesses with a view to completing a
 Qualifying Transaction (as such term is defined under the policies of
 the Exchange).  The funds raised under the offering are to be used to
 pursue its Qualifying Transaction.


THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
 DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
 STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF
 AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED
 STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED
 UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY
 STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
 STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.


NEITHER 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.


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p Douglas Porter, Chief Executive Officer, Chief Financial Officer,  President and Director of Petro Occidente at: /p p Telephone: [phone]br/ Facsimile: [phone] /p 

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