Palo Duro Appoints Mr. Murray Flanigan as Chief Financial Officer

Vancouver, British Columbia--(Newsfile Corp. - December 3, 2013) - Palo Duro Energy Inc. (TSXV: PDE) ("Palo Duro" or the "Company") is pleased to announce the appointment of Murray G. Flanigan as chief financial officer.

Mr. Flanigan brings a wealth of international financial management, public market, and business development experience to Palo Duro Energy Inc. Mr. Flanigan has previously served as CFO of Qwest Investment Management Inc ("Qwest"), a leading Canadian investment management firm that specializes in identifying and structuring investment products for the natural resource and energy sectors. During his tenure he was responsible for the preparation and completion of interim, year-end consolidated financial statements, and all regulatory reporting and filings for Qwest and for several private and publicly listed companies in Qwest's portfolio. Mr. Flanigan also has significant experience working in telecommunications, international shipping, pipeline manufacturing and other areas of the oil & gas sector.

Mr. Flanigan earned a Bachelor of Commerce degree from the University of British Columbia and holds a Chartered Accountant and Chartered Financial Analyst designation.

Palo Duro Energy Inc.

Per:
"Kurt Bordian"
President & CEO.

For further information please contact:
Investor Relations: 1-778-373-3740
Email: info@paloduro.ca

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.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws, including information regarding the share consolidation. Forward-looking information is based on plans and estimates of management at the date the information is provided and certain factors and assumptions of management. Forward looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risks related to international operations and doing business in foreign jurisdictions, risks associated with the oil and gas industry and exploratory and development activities generally (e.g., operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, risks associated with equipment procurement and equipment failure), the risk of commodity price and foreign exchange rate fluctuations, risks related to future royalty rate changes, and risks and uncertainties associated with securing and maintaining necessary regulatory approvals.

 
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