PTT Primera Energy Resources Ltd.

Primera Energy Resources Ltd. ("PERL" or the "Corporation") (TSX VENTURE:PTT)
has appointed Peters & Co. Limited ("Peters & Co.") as its financial advisor and
to assist the Corporation in its review of strategic alternatives. Peters & Co.
will be working with the Special Committee of the Corporation's Board of
Directors in that regard as previously announced on March 13, 2012.


The Special Committee, in conjunction with Peters & Co., will evaluate strategic
alternatives which may include, but are not limited to: a private placement or
other offering of equity or debt, the sale of a material portion or other assets
of the Corporation; the sale of the Corporation, either in one transaction or in
a combination of transactions; a merger or other business combination with
another company; or a farm-out or joint venture.


The Corporation has not established a definitive timeline to complete its review
and no decision on any particular alternative has been reached at this time.
There can be no assurance that the process will result in a transaction of any
form or, if a transaction is undertaken, as to its terms or timing. The
Corporation does not intend to make any further announcements regarding the
process unless and until the Board has approved a specific transaction or other
course of action or otherwise deems disclosure of developments is appropriate.
The Corporation intends to continue to pursue its present business plan during
this period which is to exploit its oil and gas properties in Trinidad. These
activities include work-overs and side track wells on its lease operatorship and
the participation in its 16.2% working interest in the Cory Moruga 'E' Block,
all of which are focused on oil opportunities and situated onshore Trinidad.


PERL is a TSX Venture Exchange listed issuer which currently produces
approximately 430 barrels of oil per day pursuant to a lease operatorship
agreement in South Central Trinidad and has a 16.2% working interest in the Cory
Moruga 'E' Block situated onshore Trinidad. 


READER ADVISORY

This news release contains forward-looking statements relating to the
Corporation's plans and other aspects of the Corporation's anticipated future
operations, strategies, financial and operating results and business
opportunities. Forward-looking statements typically use words such as
"anticipate", "believe", "project", "expect", "plan", "intent" or similar words
suggesting future outcomes, statements that actions, events or conditions "may",
"would", "could" or "will" be taken or occur in the future, or consists of
statements regarding estimates of future production, operating costs or other
expectations, beliefs, plans, objectives, assumptions or statements about future
events or performance. Statements regarding reserves are also forward-looking
statements, as they reflect estimates as to the expectation that the deposits
can be economically exploited in the future.


Although the Corporation believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct. As a consequence, actual results may
differ materially from those anticipated in the forward-looking statements and
you should not unduly rely on forward-looking statements. The forward-looking
statements contained in this news release are made as the date of this news
release and the Corporation does not undertake any obligation to update publicly
or to revise any of the included forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be required by
applicable securities laws.

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