Petro-Reef Resources Ltd. ("Petro-Reef", "PER" or the "Company") (TSX
VENTURE:PER) is aware of a press release issued May 22, 2012 by Cavalon Capital
Corp. a company led by David Tonken and Gregory Matthews (the "Dissidents"). The
press release is available on SEDAR.


The dissidents are attempting to take control of the board of directors of your
Company at the currently scheduled June 7, 2012 shareholders meeting by
proposing an alternate board.


Your board intends to take all reasonable actions to ensure the interests of all
shareholders are considered and protected, and that the shareholders are
informed of the complete record of all relevant facts so that the shareholders
can make an informed decision. 


Your board urges you to TAKE NO ACTION at this time with respect to any BLUE
PROXY FORM you may have received.


About Petro-Reef Resources Ltd. 

Petro-Reef Resources Ltd. is an Alberta incorporated oil and natural gas
exploration and production company whose business activities are focused in
Alberta. The Company has no subsidiaries. The Company's head office address is
Suite 970, 10655 Southport Road SW, Calgary, Alberta T2W 4Y1. 


The Company's shares are listed on TSX-V (Symbol: PER). There are 62,239,477
common shares issued and outstanding.
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