PetroCorp Group Inc. announces special dividend

EDMONTON, Feb. 22 /CNW/ - PetroCorp Group Inc. (PCG.H: NEX) ("PetroCorp" or the "Corporation"), announces today that it has declared a special dividend on the outstanding common shares of the Corporation of $0.11 per share. The total dividend payment will be $7,944,557.94. The dividend will be payable on March 4, 2010 to shareholders of record on March 2, 2010 and will be designated as an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and corresponding provincial legislation.

The Corporation also announces that it has reduced the stated capital for the common shares by $6,000,000.

Neither the NEX, nor its Regulatory Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy this release.

For further information: Ian Hogg, Investor Relations, at [phone], or Randy Fries, Interim Chief Financial Officer, at [phone]