PacificWave Partners

Proteus Energy Corporation Announces the Completion of a $10 million financing with Platinum Partners Credit Opportunities Fund

Los Angeles, California, February 21, 2012—Proteus Energy Corporation (“Proteus Energy”), today announced the closing of a $10 million secured line of credit with Platinum Partners Credit Opportunities Fund (“PPCO”), a private investment fund managed by New York based Platinum Partners. Funds will be used for the drilling of new wells at Proteus’ Northwest Lost Hills oil and gas field in Kern County, California and for its share of the costs related to continued development of the Lynch Canyon heavy oil field in Monterey County, California. PPCO also received equity in Proteus in the form of preferred shares.

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