Orca Exploration Announces Delay in Completion of Annual Filings

TSX-V: ORC.A, ORC.B

TORTOLA, British Virgin Islands, May 1, 2015 /CNW/ - Orca Exploration Group Inc. ("Orca" or the "Company") announces that it has not filed its consolidated financial statements and management's discussion and analysis for the year ended 31 December 2014 or its reports relating to reserves data and other oil and gas information under National Instrument 51- 101 - Standards of Disclosure for Oil and Gas Activities (collectively, the "Annual Filings") with the Canadian securities regulatory authorities. The Company and its auditors are working diligently to complete the Annual Filings and intend to file them as soon as possible during the week of May 4, 2015.

As a result of the Company's failure to file the Annual Filings by the required deadline, the Alberta Securities Commission and other securities regulatory authorities in jurisdictions where Orca is a reporting issuer may issue cease trade orders prohibiting trading in the Company's shares.

Orca Exploration Group Inc.

Orca is an international public company engaged in natural gas exploration, development and supply in Tanzania through the wholly-owned subsidiary PanAfrican Energy Tanzania Limited ("PanAfrican Energy"), as well as oil and gas appraisal in Italy. Orca trades on the TSX Venture Exchange under the trading symbols ORC.A and ORC.B.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains forward-looking statements and information. More particularly, this news release contains statements and information concerning, but not limited to, the expected timing for filing of the Annual Filings; and the potential that the securities regulatory authorities in jurisdictions where Orca is a reporting issuer may issue cease trade orders prohibiting trading in the Company's shares. Although management believes that the expectations reflected in the forward-looking statements and information are reasonable, it cannot guarantee future results, performance or achievement since such expectations are inherently subject to significant uncertainties and contingencies. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.  These forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Orca's control, and many factors could cause Orca's actual results to differ materially from those expressed or implied in any forward-looking statements made by Orca, including, but not limited to: that the Company is unable to file the Annual Filings on the timing anticipated; and risk that orders are issued ceasing trading in Orca's securities. Readers are cautioned that the foregoing list of factors is not exhaustive. Such forward-looking statements are based on certain assumptions made by Orca in light of its experience and current knowledge of the circumstances, as well as other factors Orca believes are appropriate in the circumstances, including, but not limited to: the nature and magnitude of the work required to complete the Annual Filings. The forward-looking statements contained in this news release are made as of the date hereof and Orca undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Orca Exploration Group Inc.

W. David Lyons, Chairman and Chief Executive Officer, [phone], [email protected]; Robert S. Wynne, Chief Financial Officer and Director, [phone], [email protected]