Mr. Krishna Vathyam reports

PETRODORADO FILES FINANCIAL RESULTS, MANAGEMENT DISCUSSION & ANALYSIS

Petrodorado Energy Ltd. has filed its interim financial results and management's discussion and analysis.

Financial statements

Highlights include:

• Working capital of $34.4-million, plus $13.6-million in restricted cash, for a total of $48-million to be used in exploration activities and general operations.

                     FINANCIAL HIGHLIGHTS
                       (in U.S. dollars)

                                  Period ended        Period ended 
                                March 31, 2012      March 31, 2011

Total revenue                         $208,370             $24,204
Funds used in operations              (589,866)           (796,633)
Net loss and comprehensive loss        543,008           3,318,978
Net loss per share, basic and diluted     0.01                0.01

Correction to previously filed oil and gas annual disclosure

Further to its oil and gas annual disclosure filing (Form 51-101 F1), Item 4.1 (reserves reconciliation), issued on April 19, 2012, Petrodorado announces a non-material correction. The total numbers remain the same, but the revised table has corrected numbers for economic factors under the categories proved and proved plus probable (258.1) and in production for the categories proved and proved plus probable (30.4).

Complete reports and statements are available on SEDAR and on the company website.