Petro Viking Closes Aquisition

Mr. Giovanni DeFrancesco, President & CEO of Petro Viking Energy Inc. (the
"Company") (TSX VENTURE:VIK), is pleased to announce the Company has closed its
acquisition of assets at Plato, Saskatchewan (previously disclosed on
Stockwatch, December 8, 2011). The acquisition consisted of the purchase of the
remaining 70% working interest in certain lands, a portion of which is held by
related parties to the Company. After giving effect to the acquisition the
Company owns a 100% working interest in two sections of land targeting Viking
Oil. The Company acquired the assets for a total purchase price of $393,759,
which was payable as to $236,259 in cash and the issuance of 630,000 shares of
the Company at a deemed value of $0.25 per common share. The common shares will
be subject to a four month hold period. 


The TSX-V has in no way passed upon the merits of the proposed transaction and
has neither approved nor disapproved the contents of this press release. 


The reader is advised that some of the information contained herein may
constitute forward looking statements within the meaning assigned by National
Instrument 51-102 and other relevant securities legislation. It includes, but is
not limited to, statements with respect to well production and performance,
expected timing of well development and operations including the anticipated
dates for the drilling of wells, oil and gas reserves value, and future sources
of cash to fund operations. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "scheduled", "potential", or other similar words, or
statements that certain events or conditions "may", "should" or "could" occur.
Forward-looking information is based on the Company's expectations regarding its
future growth, results of operations, production, future capital and other
expenditures (including the amount, nature and sources of funding thereof),
competitive advantages, plans for and results of drilling activity,
environmental matters, business prospects and opportunities. Such
forward-looking information reflects management's current beliefs and
assumptions and is based on information currently available to it. The reader is
cautioned that assumptions used in the preparation of such information, although
considered reasonable by the Company at the time of preparation, may prove to be
incorrect and readers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date hereof. The
Company does not undertake any obligation to release publicly any revisions to
forward-looking information contained herein to reflect events or circumstances
that occur after the date hereof or to reflect the occurrence of unanticipated
events, except as may be required under applicable securities laws. 


Forward-looking information involves significant known and unknown risks and
uncertainties. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking information
including risks associated with the impact of general economic conditions,
industry conditions, governmental regulation, volatility of commodity prices,
currency fluctuations, imprecision of reserve and resource estimates,
environmental risks, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
the Corporation's ability to access sufficient capital from internal and
external sources.