Mr. Peter Clutterbuck reports

RECENT CHANGES TO THE BOARD

Further to the news release of April 30, 2013, in which Acadia Resources Corp. announced the appointment of Yogeshwar Sharma and Peter Clutterbuck as directors of the company, the company has made further changes to the board of directors and management:

• Chris Cherry has resigned as a director of the company.
• The company's board of directors now consists of Read Taylor, Mr. Sharma and Mr. Clutterbuck.
• Mr. Clutterbuck has been appointed as president and chief executive officer upon the resignation of Tom Kennedy from those positions.
• Mr. Sharma has been appointed as chairman of the board.
• Nigel Friend has been appointed as chief financial officer upon the resignation of Tyler Friesen.
• Mr. Kennedy has been appointed as corporate secretary of the company upon the resignation of James Harris from that position.

Mr. Sharma has over 40 years of broad international oil and gas industry experience. He is a co-founder of Hardy Oil and Gas PLC and served as its chief executive officer until May, 2012, when he stepped down to take a position as a non-executive director. Hardy is a London Stock Exchange-listed company with operations in offshore India. He also serves as a director of Longreach Oil and Gas, a TSX Venture Exchange-listed company with assets in Morocco. Prior to founding Hardy, Mr. Sharma worked at Elf International in France and at Schlumberger Dowell Research in the United States. Mr. Sharma graduated from the University of Alberta in mechanical engineering and did his postgraduate studies at the University of Calgary in chemical engineering. He is a registered professional engineer in Alberta, Canada, a full member of the SPE, and a member of the Society of Applied and Industrial Mathematics.

Mr. Clutterbuck was most recently chief executive officer of Alternative Investment Market-listed 3Legs Resources, which operated the first shale gas production in Europe. Previously, he was chief executive officer of TSX Venture Exchange-listed Orca Exploration, which developed the Songo Songo gas field in Tanzania, and vice-president of operations for Gabon-focused Pan Ocean Energy, which was sold for $1.6-billion to Addax Petroleum. A former director of AIM-listed Northern Petroleum (chief executive officer), President Petroleum and Mediterranean Oil & Gas, Mr. Clutterbuck was responsible for the discovery of the Rubiales field in Colombia. He had a 15-year career in management positions with the BP group in Abu Dhabi, North Sea and Alaska, and he served on the board of the SPE in London. He holds a degree in engineering from Cambridge University.

Mr. Friend is an accountant with an extensive knowledge of the energy sector and in particular the commercialization of gas streams. He is currently a commercial financial director of ASA Energy Conversions Ltd. (a company involved with gas to liquid technology). Previously (2004 to 2012), he was chief financial officer and executive vice-president of Orca Exploration Group Inc. (a company involved in gas development in Tanzania) and, prior to that (2002 to 2004), was a financial and commercial consultant for Pan Ocean Energy Corp. Inc. (an oil exploration and production company operating in Gabon). Mr. Friend was a practising accountant with KPMG for 11 years (1986 to 1997).

First tranche closing of private placement

Further to the company's news releases dated April 30, 2013, and May 15, 2013, the company has received TSX Venture Exchange approval to a first tranche closing of its private placement. The company has raised $207,500 and issued 4.15 million subscription receipts at a price of five cents per receipt. Each receipt is convertible, for no additional consideration, into one postconsolidated common share upon completion of the company's proposed share consolidation. Finders' fees of $6,000 will be paid in connection with the first tranche closing of the private placement. The receipts are subject to a four-month hold period expiring Oct. 29, 2013.

The proceeds from the private placement will be used for general working capital purposes.