Orca Energy Group Provides Update on Management Cease Trade Order and Further Filing Delay - Seite 2

The Company confirms that since the date of the MCTO Announcements: (i) there has been no material change to the information set out in the MTCO Announcements that has not been generally disclosed, other than as described in this news release; (ii) the Company is satisfying and confirms that it intends to satisfy the provisions of the "alternative information guidelines" under NP 12-203 and issue bi-weekly default status reports in the form of a news release for so long as the MCTO is effective; (iii) there has not been any other specified default by the Company under NP 12-203 other than the anticipated Interim Filing Delay as described in this news release; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About Orca Energy Group Inc.

Orca Energy Group Inc. is an international public company engaged in natural gas development and supply in Tanzania through its subsidiary, PanAfrican Energy Tanzania Limited. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information (collectively, "forward-looking information") within the meaning of applicable securities legislation. All information, other than historical fact included in this news release, which address activities, events or developments that the Company expects or anticipates to occur in the future, are forward-looking information. Forward-looking information is based on expectations, estimates, projections, and interpretations as at the date of this news release. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends", "seek", "aims" and similar expressions are intended to identify forward-looking information. Such forward-looking information includes, without limitation, statements relating to: the completion of the audit of the Financial Statements and timing thereof; the completion of the Required Filings and timing thereof; the completion of the Interim Filings and the timing thereof; that the MCTO will remain in place during the ASC's review of the Filing Delay; the impact of the MCTO on the Company's operations; and that during the period of default and until the Required Filings have been made, that the Company intends to satisfy the provisions of the alternative information guidelines as required by NP 12-203.

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