Petro Viking Energy Inc. Corporate and Operational Update

The Board of Directors of Petro Viking Energy Inc. (the "Company")(TSX
VENTURE:VIK), is pleased to announce that Mr. Giovanni DeFrancesco, currently
the Company's Vice-President of Operations, has agreed to assume the role of
President and Chief Executive Officer. Mr. DeFrancesco succeeds Mr. Irvin
Eisler, who will continue to serve as a director of the Company. Mr. DeFrancesco
is an engineering technologist with over 29 years experience in the oil and gas
industry. The Board of Directors thank Mr. Eisler for his dedication and
leadership over the past few months. 


The Company also announces that Mrs. Alana Constance has been appointed as the
Company's Chief Financial Officer. Mrs. Constance succeeds Mr. Andre Voskuil,
who has resigned as Chief Financial Officer of the Company but will remain as a
director. Mrs. Constance is a Chartered Accountant with over 10 years of
experience in financial reporting in the oil and gas industry. Mrs. Constance
has been consulting with the Company since March 2011 and has an excellent
understanding of the Company's business. Mrs. Constance's appointment is subject
to TSX Venture Exchange Approval. The Board of Directors thank Mr. Voskuil for
his dedication and commitment to the Company. 


Operations Update

Over the past several months, the Company has been developing its optimization
strategy on its existing inventory of assets and incorporating the recent asset
acquisition which was previously announced on August 2, 2011. The Company has
approved a capital expenditures budget for the fiscal year 2011 of $1,500,000
which, if successful, is expected to increase production.


4th Quarter Program Highlights



--  The Company will fracture and evaluate an existing well bore for Viking
    light oil on its Brock, Saskatchewan lands, where the Company has a land
    position of 42 sections at a 20% working interest. This program will
    further develop the Company's interpretation of the Viking Oil fairway
    and set the stage for future horizontal development. The Company has
    already confirmed oil presence with virgin reservoir pressure and
    defined the width of the fairway. 

--  The Company will be participating in a 4 well vertical drill program to
    determine the extent of hydrocarbon in the Viking Oil formation on its
    Brock property with its Joint Venture partner. The program is currently
    scheduled for 2012. 

--  At Brownfield, Alberta, where the Company has a 100% working interest, a
    service rig is being mobilized to perforate, fracture and evaluate
    several wellbores. The primary target is oil within the Viking formation
    to establish horizontal exploitation. 

--  At Plato, Saskatchewan, where the Company currently holds a 30% working
    interest, an application is being prepared for a Viking horizontal well.
    In conjunction with this activity the Company is in discussions with
    various parties to increase its working interest to at least 63%. 



About Petro Viking 

Petro Viking is a Calgary-based junior resource company engaged in the
exploration, development and production of oil and natural gas in Alberta and
Saskatchewan. The management and directors of the Company are focused on
increasing shareholder value and believe that value can be added through the
continued development of its Alberta and Saskatchewan properties. 


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. 


Forward Looking Information 

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.