Gondwana Announces Positive Discussions With Ministry

TORONTO, April 17, 2014 /CNW/ - Gondwana Oil Corp. ("Gondwana" or the "Company") (CSE: GO) would like to provide a further update concerning the application by the Company's 70% held subsidiary, Miura Petroleum Limited ("Miura"), to acquire an interest in the Offshore Cape Three Point South (OCTPS) block, and the press release from the Ministry of Energy and Petroleum of Ghana (the "Ministry") dated April 10, 2014 (the "Announcement") in connection with such application.

Gondwana is pleased to report constructive and cooperative discussions with the Ministry earlier this week, and anticipates confirmations from the Ministry either on its website or to be released through Gondwana after the holiday, to supplant the previous Announcement. 

Further details will be announced as soon as possible.  For further information, please refer to the press releases of the Company dated April 14 and April 16, 2014 available on SEDAR at www.sedar.com.  The Company also encourages investors to refer to the website of the Ministry at http://www.energymin.gov.gh/?cat=3 for further updates.

Forward-Looking Statements

Certain information set forth in this news release contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the risks inherent to operating in developing countries (such as corruption, limited infrastructure and resources, crime, civil unrest, the uncertainty of regulatory process, the legal system and the rule of law, war and terrorism), unfair competitive practices,  the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the uncertainty of obtaining additional financing, and the other risk factors disclosed in the information circular of Mantis Mineral Corp. (a predecessor to the Company) dated December 30, 2013 (the "Circular") available at www.sedar.com. There can be no assurance that Gondwana will be able to satisfy any of the conditions required in order to negotiate and conclude a Petroleum Agreement with the Government of Ghana with respect to the OCTPS block on terms acceptable to Gondwana or at all.  For further details please refer to the Circular, including disclosure under the headings "Risk Factors" contained therein. Readers are cautioned that the assumptions used in the preparation of  information contained herein, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

SOURCE Gondwana Oil Corp.

For further information: Gondwana Oil Corp., Vicki Rosenthal, Chief Financial Officer, (416) 362-1800 ext 240, http://www.gondwanaoil.com, info@gondwanaoil.com