Petro One Completes $2,664,003 Financing

PETRO ONE ENERGY CORP.

1300-1111 West Georgia Street

Vancouver, BC V6E 4M3

Telephone: [phone]

Toll free: 877 566 9089

Facsimile: 604 564 8003

PetroOneEnergy.com
TSX-V: POP OTC: CUDBF.PK Frankfurt: C6K1

PETRO ONE COMPLETES $2,664,003 FINANCING

January 4, 2012 - Petro One Energy Corp. (TSX-V: POP) is pleased to announce that its non-brokered private placement announced on December 12, 2011 and increased to $2,664,003 on December 16, 2011 was completed on December 22, 2011. The Company issued 4,440,005 units (each a "Unit") at the price of
$0.60 per Unit on December 22, 2011. Each Unit was comprised of one common share and one-half of a share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at the price of $0.80 until December 22, 2013, subject to acceleration at the Company's option if its shares close at $1.20 or higher for twenty (20) consecutive trading days at any time after four months after Closing.
Proceeds from the financing will be used to fund expenses associated with the development of the Company's oil and gas properties, including completing, equipping and bringing into production oil wells previously drilled on the Company's properties.
The Company has paid to Aberdeen Gould Capital Markets Ltd. and its selling group, in the aggregate, cash finders' fees totaling $153,828.18, which is equal to 6% of the gross proceeds from a portion of the offering. In addition, the Company has issued finder's warrants exercisable to purchase 256,381 shares, which is equal to 6% of a portion of the shares issued by the Company pursuant to the offering. Each finder's warrant will be exercisable at the price of $0.80 until December 22, 2013, subject to acceleration at the Company's option if its shares close at $1.20 or higher for twenty (20) consecutive trading days at any time after four months after Closing. All shares and warrants issued pursuant to the offering are subject to a four-month hold period expiring at midnight on April 22, 2012. Any shares issued pursuant to the exercise of warrants or finders' warrants will also be subject to a four-month hold period expiring at midnight on April 22, 2012.

ON BEHALF OF THE BOARD

Peter Bryant
President & Director

For further information or to view new maps and photos, please visit the company's website at

PetroOneEnergy.comor contact Jeff Stuart at 604 566 9089 or by e-mail at [e-mail]

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.