Petroglobe Announces Demand by Lender to Repay Outstanding Indebtedness and Notice of Intention to Enforce Security

PetroGlobe Inc. ("PetroGlobe" or the "Company") (TSX VENTURE:PGB) announces that
its lender, Alberta Treasury Branches ("ATB"), has made demand upon PetroGlobe
for payment in full of its outstanding indebtedness in the aggregate amount of
approximately $1.8 million plus accrued interest, costs and fees by the close of
business on July 25, 2013. In addition, ATB has provided PetroGlobe with a
Notice of Intention to Enforce Security pursuant to subsection 244(1) of the
Bankruptcy and Insolvency Act (Canada) ("BIA"). 


Management of PetroGlobe is working with its lender to come up with a plan to
repay the indebtedness under the facility, which plan may include the sale of
assets or corporate restructurings. If the Company is unable to satisfy the
repayment requirement or enter into adequate forbearance arrangements with its
lender, the lender may take realization remedies against the Company, or the
Company may be forced to seek creditor protection or voluntary receivership in
order to resolve the demand. There is a risk that the Company's assets may not
be sufficient to satisfy the demand plus the costs associated with a realization
or liquidation in respect thereof.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
PetroGlobe Inc.
Jason E. James
Chief Financial Officer
[phone] ext. 234
[e-mail]


PetroGlobe Inc.
Bill Powers
Interim Chief Executive Officer
[phone]