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PetroShale Announces Recent Filings

CHATHAM, ONTARIO -- (Marketwire) -- 11/26/12 -- PetroShale Inc. (TSX VENTURE:PSH) ("PetroShale" or the "Company") announces the filing of: (i) its restated third quarter financial statements for the quarter ending March 31, 2012 and the corresponding Management's Discussion and Analysis dated November 26, 2012; (ii) a material contract: option agreement among Alameda Energy, Inc., Mondak Petroleum (US), Inc. and Mondak Petroleum Inc. (a wholly owned subsidiary of PetroShale); and (iii) a notice of change in corporate structure (pursuant to section 4.9 of NI 51-102).

The restated financial statements and corresponding MD&A are being restated and refiled to reflect the proper accounting treatment of the business combination of PetroShale (formerly Algonquin Oil & Gas Limited) and Mondak Petroleum Inc. completed in March 2012. The option agreement and change of name were described in detail in the information circular dated December 22, 2011, the press release dated March 12, 2012 and the material change report dated March 12, 2012 (and are available for review under PetroShale's profile on SEDAR (www.sedar.com)). These filings are being made to conform to the formal requirements of National Instrument 51-102.

An electronic copy of these documents may be obtained on PetroShale's SEDAR profile at www.sedar.com.

Neither the 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.

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