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Palo Duro Announces Change to Management

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2012) - Palo Duro Energy Inc. ("Palo Duro" or the "Company") (TSX VENTURE:PDE) provides the following corporate update.

APPOINTMENT OF INTERIM PRESIDENT AND CEO

The Company is pleased to announce the appointment of Kurt Bordian as Interim President and CEO. Mr. Bordian is a designated Certified General Accountant in Canada and holds a Bachelor of Commerce (Honours) Degree from the University of Manitoba. He has worked mainly in the mineral exploration and oil and gas industries over the past 10 years, and currently serves as an officer and director of several other public companies.

The Company also announces the resignation of Bill Koutsouras as President and CEO. The Company wishes to thank Mr. Koutsouras for his contribution and tenure with Palo Duro.

Palo Duro Energy Inc.

Kurt Bordian, President & CEO

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 timing and completion of the acquisition. 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 including country and governmental risks, risks associated with the mining 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, and risks and uncertainties associated with securing and maintaining necessary regulatory approvals.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Palo Duro Energy Inc.
Investor Relations
1-604-639-4673
1-604-639-4670 (FAX)
info@paloduro.ca

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