Quattro Provides Financial Guidance and Announces the Withdrawal of Its Convertible Debenture Offering

CALGARY, ALBERTA--(Marketwired - April 22, 2014) - Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to announce April 28, 2014 as the anticipated date for the release of our audited financials for the year ended December 31, 2013.

The Company is also pleased to confirm its previous guidance of pro forma revenue for the year ended December 31, 2013, exceeding $14 million as previously projected.

Furthermore, Quattro's Board of Directors, in reviewing the Company's performance and recent trading activity in the Company's common shares, has also made the determination that the 3-year convertible debenture previously being offered with a yield of 8% interest per annum with the holder being granted the right to convert to Class A Common shares at $0.50 per share shall be withdrawn by the Company rather than being re-priced in the context of the current market.

"Current commodity prices for oil and gas and the resulting cash flow continues to provide Quattro a number of strategies to further enhance its business plan and we look forward to continuing to build on our organic growth goal of reaching production of 2500 boe per day by year end 2014," said Leonard Van Betuw, President and CEO.

"In addition, we are currently reviewing a number of options to further accelerate our plans. We look forward to providing guidance to the market once the Board has approved the appropriate course of action that supports the Company's conservative approach to maintaining a strong balance sheet, while at the same time increasing growth and enhancing shareholder value."

About Quattro Exploration and Production Ltd.

Quattro Exploration and Production Ltd. ("QXP") continues to focus on the conventional exploration and development of oil and natural gas reserves in Western Canada, with an expanding presence in Alberta and British Columbia. It's core low risk production base will provide the Company the capacity to aggressively pursue a series of high impact exploration and development efforts in Central and South America. Quattro intends to balance this portfolio of activities to assure its shareholders that it achieves material growth in both reserves and production.