Petro River Oil Corp. provided an update on the development activities on its core acreage in Osage County, Oklahoma. After the initial discovery of the West Blackland Field in June 2017, the company has built roads installed flowlines and constructed a central processing facility with a 1,800 BOPD capacity. Current gross daily production is 120 BOPD. In the past three months, 8 successful development wells have been drilled with two additional wells currently drilling and a number of well completions underway. On the basis of this drilling program, the company has earned the right to extend its 100,000+ acre Concession with the Osage Tribe for an additional year. The discovery well in the West Blackland Field has produced over 7,500 barrels in the past 7 months and is on track for an 8-month payback. Within the next 60 days the Company expects to report stabilized production rates and independent reserve estimates at the West Blackland Field, with all currently-drilled wells completed and producing. In addition, the company has filed permits for a new exploration well which, if successful, could result in a new field discovery potentially much larger than the West Blackland Field, and currently expects to have results from this well in June.