Petra Petroleum Inc.: Revised Business Strategy and Appointment of Key Member to Leadership Team

Petra Petroleum Inc. (TSX VENTURE:PTL) (the "Company") is pleased to announce
the adoption of its revised business strategy and the appointment of a new key
member of the Company's Leadership Team.


The Company's revised business strategy is to re-focus its energy and petroleum
activities internationally. The Company plans to acquire, explore and develop
oil and gas assets in proven and prospective petroleum basins in the Middle
East, North Africa and Mediterranean (MENAM) region, including an initial focus
on the emerging trend of world class offshore gas discoveries of the Eastern
Mediterranean area. We will seek to leverage the international exploration
experience of the Company's new Leadership Team in identifying early life cycle
opportunities and we will deploy our business development and technical skills
to create a diversified resource base. We are actively evaluating a number of
attractive opportunities in basins with known petroleum systems and favourable
risk-reward profiles. We will continue to seek new ventures which aim to
position the Company to grow rapidly through the timely exploration and
development of potentially significant petroleum resources. Further information
can be found on the Company's new website which can be accessed at
www.petrapetroleum.com.


The Company has also appointed Andrew Boetius to the new position of Director,
Finance & Administration with an effective start date of September 12, 2011. Mr.
Boetius is a UK Chartered Management Accountant and he spent the majority of his
career in the exploration, production, and energy sectors. He held a number of
roles during a 14 year career with Amerada Hess Corporation, both in its
upstream and downstream businesses. In his last role with Amerada Hess, Mr.
Boetius held the role of Finance Director for its UK energy marketing and
trading business, and was a member of the management team that sold this
division to the TXU group. Thereafter he performed an interim management role
for the Fortum Group, successfully achieving the divestment of their UK energy
marketing business. In his most recent position, Mr. Boetius was Chief Financial
Officer for a small oil and gas exploration company, Index Oil and Gas, focused
on the US onshore gulf coast, and based in Houston. 


Robert Lambert, President and Chief Executive Officer of Petra Petroleum Inc.,
commented, "Andy Boetius is a very important addition to the Company's growing
Leadership Team, particularly at this very exciting time for the Company when we
are embarking on new international exploration ventures that will position the
company for future growth and success."