Renegade Petroleum Ltd. and Petro Uno Resources Ltd. Announce Shareholder and Court Approval of Business Combination Transaction

Renegade Petroleum Ltd. ("Renegade") (TSX VENTURE:RPL) and Petro Uno Resources
Ltd. ("Petro Uno") (TSX VENTURE:PUP) are pleased to announce that the holders of
common shares of Petro Uno ("Petro Uno Shareholders") have approved the
acquisition of Petro Uno by Renegade by way of a plan of arrangement pursuant to
the provisions of the Business Corporations Act (Alberta) (the "Arrangement").
Petro Uno Shareholders overwhelmingly supported the proposed transaction, with
100% of Petro Uno Shareholders that voted in person or by proxy at the special
meeting of Petro Uno Shareholders voting in favour of the Arrangement.


The Arrangement has also been approved by of the Court of Queen's Bench of
Alberta. The Arrangement is expected to close on Thursday, April 14, 2011. 


FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements related to timing of
closing of the Arrangement. Although Renegade and Petro Uno believe that the
expectations and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the forward-looking
statements because Renegade and Petro Uno can give no assurance that they will
prove to be correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. 


The forward-looking statements contained in this document are made as of the
date hereof and Renegade and Petro Uno undertake no obligation to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws.