Mr. Kevin Gibson reports

PALLISER OIL & GAS CORPORATION COMMENTS ON TRADING HALT

The Investment Industry Regulatory Organization of Canada has halted trading of Palliser Oil & Gas Corp.'s common shares.

The halt was initiated upon the request of the TSX Venture Exchange after the TSX-V's determination to treat the proposed amalgamation of Palliser with Maha Energy Inc. as a reverse takeover, as such term is defined in the TSX-V policies, requiring additional filings and information dissemination by Palliser. The halt is expected to remain in place pending dissemination of additional information on the amalgamation as well as receipt and review by TSX-V of requisite documentation in accordance with Section 3.4 of TSX-V Policy 5.2. It is expected that the requisite additional information will be provided in Palliser's news release, together with Palliser's second quarter results, planned to be disseminated after the close of business on Tuesday, Aug. 26, 2014.

Palliser is not aware of any material developments with respect to the amalgamation.

We seek Safe Harbor.