PetroCorp Group Inc. Announces Return of Capital

PetroCorp Group Inc. (NEX BOARD:PCG.H) (the "Corporation") announces today that
it has declared a return of capital on its outstanding common shares (the
"Common Shares") of $0.0145 per share. The total return of capital paid will be
approximately $1,048,687. This return of capital will be payable on August 21,
2013 to shareholders ("Shareholders") of the Corporation of record on August 19,
2013 (the "Record Date"). 


Shareholders will receive $0.0145 in cash for each Common Share held as of the
Record Date. Shareholders with an adjusted cost base of their Common Shares in
excess of $0.0145 per share should not be subject to tax as a result of this
distribution. However, the adjusted cost base of their Common Shares will be
reduced by the amount of the distribution they receive. A capital gain should be
realized by Shareholders to the extent that this capital distribution exceeds
the adjusted cost base of their Common Shares. The Corporation is not required,
nor does it intend to issue any reporting slips with respect to this
distribution. Accordingly, any tax reporting slips which Shareholders may
receive from the Corporation will not reflect this capital distribution. 


The Corporation suggests that Shareholders obtain specific tax guidance where
required, and in particular non-residents, which may be subject to different tax
provisions and consequences according to their local tax laws. 


The Common Shares will commence trading on a "due bills" basis on NEX effective
from the opening on August 15, 2013 to and including the payment date: August
21, 2013. Sellers of the Common Shares on NEX from August 15, 2013 to and
including August 21, 2013 will not be entitled to the distribution and any
distribution payments received in accounts will be withdrawn. Holders including
buyers on August 21, 2013 will be entitled to receive the distribution. The
Common Shares will commence trading on NEX on an ex-distribution basis effective
from the opening on August 22, 2013. Also, note that for entitlement of the
distribution, the last trading day to purchase the Common Shares on NEX will be
August 21, 2013. 


Neither the NEX, nor its Regulatory Services Provider (as that term is defined
in the policies of the NEX) accepts responsibility for the adequacy or accuracy
of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
PetroCorp Group Inc.
Larry Patriquin
Chief Executive Officer
[phone]


PetroCorp Group Inc.
Randy Fries
Interim Chief Financial Officer
[phone]