PetroNova grants stock options

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./

CALGARY, May 1, 2014 /CNW/ - PetroNova Inc. ("PetroNova" or the "Company") (TSXV: PNA), a company engaged in the exploration and development of oil and natural gas resources in Colombia, today announced that in accordance with the stock option plan of the Company, it has granted stock options (the "Options") to purchase 1,446,000 common shares of the Company to certain of its officers, employees and consultants, of which 250,000 Options were granted to officers of the Company. The Options have an exercise price of CDN$0.32 per common share and expire five years from the date of grant. Of the total Options granted, 723,000 Options vest one year from the date of grant and 723,000 Options vest two years from the date of grant.

About PetroNova:

The Company, through its subsidiaries, is engaged in the exploration for, and the acquisition and development of, oil and natural gas resources in South America, specifically in Colombia. The Company's assets currently include the Company's interests in the PUT-2 and Tinigua Blocks located in the Caguan-Putumayo Basin in Colombia, both of which are operated by the Company, and the non-operated Llanos Blocks located in the Llanos Basin in Colombia. The common shares of the Company trade on the TSX Venture Exchange under the stock symbol "PNA".

Neither the 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.

SOURCE: PetroNova Inc.

For further information:


Antonio Vincentelli 
President & Chief Executive Officer
954 317 3990 
antonio.vincentelli@petronova.com

Stelvio Di Cecco
Chief Financial Officer
954 317 3990
stelvio.dicecco@petronova.com

Abby Garfunkel
Investor Relations
403-218-2887
agarfunkel@tmxequicom.com

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PetroNova Inc.

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