Griffiths Energy International Files Preliminary Prospectus

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

CALGARY, Nov. 23, 2011 /CNW/ - Griffiths Energy International Inc. ("Griffiths Energy" or the "Company") is pleased to announce that it has filed a preliminary prospectus (the "Prospectus") dated November 22, 2011, with the securities commissions of each of the provinces of Canada, except Quebec, in connection with an initial public offering of its common shares.

Based in Canada, Griffiths Energy is an international exploration and development company focused on oil and gas exploration, development and production activities in the Republic of Chad, Africa.  In 2011, the Company acquired three Production Sharing Contracts (the "PSCs") from the government of the Republic of Chad. These PSCs provide exclusive rights to explore and develop reserves and resources over a combined area of 25,776 square kilometres in southern Chad.  The area covering the PSCs was historically held by a consortium of super-majors, most recently led by ExxonMobil, and have been subject to 30 years of premium exploration work, to which the Company has unrestricted access.

The Company's management team is led by Gary Guidry, President and Chief Executive Officer, who joined the Company on July 1, 2011. Mr. Guidry has over 30 years of experience in the oil and gas industry, including experience with the Republic of Chad. In addition, the Board of Directors has significant financial and technical expertise in the oil and gas industry through their involvement with Canadian publicly listed oil and gas companies, operating both domestically and internationally. The Company believes that the properties covered by the PSCs provide significant near and longer term potential.

The underwriting syndicate for the offering is led by Canaccord Genuity Corp. ("Canaccord") and will also include such other underwriters as agreed to by Griffiths Energy and Canaccord.  The offering will be priced in the context of the market and will be offered in all provinces of Canada, except Quebec.

The Prospectus notes that an investment in the common shares of Griffiths Energy is speculative and involves a high degree of risk. The Company's business is subject to risks normally encountered in the oil and gas industry as well as additional risks typical of conducting oil and gas operations in developing countries in Africa. Among the risks noted in the Prospectus is an ongoing internal investigation into certain consulting agreements entered into by prior management. For more information, potential investors should read the Prospectus, including the "Risk Factors."

A copy of the Prospectus is available on the SEDAR website at www.sedar.com.

About Griffiths Energy International Inc.

Griffiths is a Canadian based international exploration and development company which is focused on oil and gas exploration, development and production activities in the Republic of Chad, Africa.

Forward looking Statements or Information and Resource Advisory

Certain statements included in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes, anticipated events or results or statements regarding an outlook. Forward-looking statements or information in this press release may include, but are not limited to, statements or information with respect to the proposed initial public offering; potential reserves and resources; seismic results; oil pay estimates; business strategy and objectives; and development and exploration plans. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. The exploration, appraisal and development of crude oil reserves and resources is speculative and involves a significant degree of risk. Few properties that are explored are ultimately developed into new reserves. In addition, the Company's operations are subject to all the risks normally incident to the exploration for, and development and production of, crude oil, including encountering unexpected formations or pressures, premature declines in reservoirs, potential environmental damage, blow-outs and fires.

The forward-looking statements or information contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this press release are expressly qualified by this cautionary statement.

Additional Advisories

The common shares of Griffiths have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and all applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the common shares in the United States or to, or for the account or benefit of, U.S. persons.

SOURCE Griffiths Energy International Inc.

For further information:

Investors:

Gary Guidry
President and Chief Executive Officer
Griffiths Energy International Inc.
403 724-7211
gguidry@griffithsenergy.com

Trevor Peters
Chief Financial Officer
Griffiths Energy International Inc.
403 724-7228
tpeters@griffithsenergy.com

Media:

Alan Bayless, Longview Communications
604-694-6035

Joel Shaffer, Longview Communications
416-649-8006

Organization Profile

Griffiths Energy International Inc.

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