July 25, 2012

Calgary, Alberta, Canada – Park Place Energy Corp. (“Park Place” or “the Company”) is pleased to announce that on July 17, 2012 the Fifth Division Supreme Administrative Court in Bulgaria “the SAC” has upheld the award of the Vranino 1-11 oil and gas exploration block license ‘the License” to Park Place.

The License was originally awarded to Park Place in October 2010 further to a competitive bidding tender process initiated by the Ministry of Energy, Economy and Tourism “MEET”. Subsequently, a competitive bidder appealed the award of the license to Park Place. The resulting SAC hearing occurred before a three judge panel on March 26, 2012. The competitive bidder may appeal within 14 days of being served with the decision to a five judge panel of the SAC. It is not known at this time whether an appeal will be pursued.

Management believes that the license area, which is centered in the Dobrich Basin, Bulgaria, has tremendous untapped resource potential, particularly in the coals and sands. The economics of a coal or sands based natural gas resource play in Bulgaria are believed to be positive, given the high prices, limited supply and strong regional market demand. “With this positive ruling by the Supreme Administrative Court, Park Place will have the opportunity to realize on the potential of the basin resources. We are very excited about moving this project forward.” stated Parvez Tyab, a Director of the Company.

About Park Place

Since 2006, Park Place has undertaken oil and gas exploration activities in North America in Alberta, Saskatchewan, British Columbia, Canada Tennessee, USA. Internationally Park Place’s claims have included the North Sea, (Norway) and recently Bulgaria.

For Further Information Contact:

David Johnson, President / Parvez Tyab, Director / Telephone: 1 403 539 8710

Email: info@parkplaceenergy.com /  Website: www.parkplaceenergy.com

Disclaimer: Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Park Place is providing additional details and clarification on its exploration permit for the Dobrich basin area, to avoid any potential confusion or misinterpretation of its intentions in exploring for natural gas.  The Park Place work program is designed to explore for natural gas located in the sandstones and coals of the region. Gas found in sandstones is referred to as conventional gas, while gas found in coals is often referred to as “coal bed methane” or “coal seam gas”, although the composition of the gas is the same (all being 99% pure methane).

The region has previously been explored which has determined there are numerous gas bearing coal beds and sandstone formations which may potentially produce gas. The five wells Park Place intends to drill are designed to explore the potential of economic extraction.

The company’s work program does not contemplate in anyway the exploration for shale gas which is presently subject to a moratorium in Bulgaria. All of the exploration methods Park Place intends to use are designed with a number of environmental safeguards in place and will be compliant with strict environmental protections.

The successful exploration of gas resources in Bulgaria could result in much needed natural gas for local consumers and businesses.

As previously mentioned in our News Release dated March 23, 2012, the permit has been disputed by a competitive bidder and the matter is now before the Bulgarian Administrative Court with a decision expected towards the end of May 2012.

About Park Place

Since 2006, Park Place has undertaken oil and gas exploration activities in North America in Alberta, Saskatchewan, British Columbia, Canada Tennessee, USA. Internationally Park Place’s claims have included the North Sea, (Norway) and most recently in Bulgaria.

For further information, contact:

David Johnson, President       Email: info@parkplaceenergy.com
Parvez Tyab, Director             Email:parvez@parkplaceenergy.com                         
Investor Relations: (403) 539 8710    Website: www.parkplaceenergy.com
Trading symbol: OTCBB:PKPL

Disclaimer: Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Park Place Energy Corp (“The Company”) representatives to appear before the Bulgarian Supreme Administrative Court on March 26, 2012 to present arguments defending the award of Vranino 1-11 block “the Block” to Park Place. The Bulgaria Counsel of Ministers originally awarded the Block to Park Place in October 2010.

An appeal was taken by an unsuccessful competitor in relation to the award of the Block to Park Place. The Court will review the Council of Ministers decision and is expected to present its findings in May of 2012. The Company believes the award of the Block will be affirmed.

Management believes the Block presents a substantial opportunity and is committed to defending its’ exploration license. Park Place’s winning bid involved drilling five wells and the re-testing of a previously drilled well. Exploration will commence once the permit issue is resolved.

About Park Place

Since 2006, Park Place has undertaken oil and gas exploration activities in North America in Alberta, Saskatchewan, British Columbia, Canada Tennessee, USA. Internationally Park Place’s claims have included the North Sea, (Norway) and most recently in Bulgaria.

For Further Information Contact: David Johnson, President
Investor Relations: (403) 539 8710
Email: info@parkplaceenergy.com
Website: www.parkplaceenergy.com
Trading symbol: OTCBB:PKPL

Disclaimer: Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Directorship appointments

Parvez Tyab, – Parvez Tyab has over 20 years’ experience as a financier and corporate executive, having served as an officer and director of a number of public and private companies.   Mr. Tyab has been involved in the acquisition and development of oil and gas properties and natural resource projects in Canada, the US as well as internationally with an emphasis on Africa.  In 2006 he co-founded and served as Executive Vice President of a company developing oil and gas in Egypt.  More recently Mr. Tyab was involved in the acquisition of, and initial $165 Million private placement financing for, an oil and gas project in the Republic of Chad. Mr. Tyab currently serves as director of a significant potash project in the Republic of Congo. In 2009, Mr. Tyab co-founded Griffiths Energy International Inc. and served as that company’s corporate secretary and director until July 2011.

Dr. Art Halleran – Dr. Halleran is a geologist obtaining his Ph.D. from the University of Calgary, who has 31 years of international petroleum exploration experience. International experience includes countries such as Canada, Colombia, Egypt, India, Guinea, Sierra Leone, Sudan, Suriname, Chile, Brazil, Pakistan, Peru, Tunisia, Trinidad Tobago, Argentina, Ecuador and Guyana. Dr. Halleran’s experience includes work with Petro-Canada, Chevron, Rally Energy and Canacol Energy. Dr. Halleran founded Canacol Energy Ltd., a company with petroleum and natural gas exploration and development activities in Colombia, Brazil and Guyana, where he served as vice president of exploration, which was credited with the largest oil discovery in Colombia over the last fifteen years. Previously Dr. Halleran was a consulting geologist for Rally Energy Corp. (Egypt) which discovered prolific reservoirs in Egypt.  Dr. Halleran currently serves as chief executive officer of United Hunter Oil and Gas Corp., a company with oil interests in California, USA.

Dr. Halleran and Parvez Tyab’s appointments to the Company’s board of directors add experience and know-how in large scale international oil and gas projects and will be valuable in furthering the Company’s gas exploration activities of the Vranino 1-11 claim in Bulgaria.

Private Placement

Effective September 30, 2011, the Company issued an aggregate of 9,975,000 shares of our common stock pursuant to private placement subscription agreements for aggregate proceeds of $748,125.00. We further issued 3,288,600 shares of our common stock pursuant to the conversion of a promissory note in the amount of USD$157,500. The Company has reserved $500,000 of the proceeds of the private placement to be used in the exploration of the Vranino 1-11 claim which includes paying for the first year work program commitment of USD $350,000.

Bulgarian Dobroudja basin gas exploration project update

Park Place was awarded the concession by the Bulgaria Counsel of Ministers in October 2010. Subsequently, a competitive bidder filed an appeal against the decision. The commencement of the work program is contingent upon the successful resolution of the appeal before the Bulgarian court. Park Place has retained local legal counsel to assist in achieving a resolution to the dispute issue.

Management believes there is a tremendous natural gas resource potential in the sandstone, coal beds and shale formations in the Vranino Block. Bulgaria has substantial undeveloped unconventional gas resources and is presently a net importer of natural gas at prices approximately 300% higherthanin North America.

About Park Place

Since 2006, Park Place has undertaken oil and gas exploration activities in North America in Alberta, Saskatchewan, British Columbia, Canada Tennessee, USA. Internationally Park Place’s claims have included the North Sea, (Norway) and most recently in Bulgaria.

For Further Information Contact: David Johnson, President
Investor Relations: 1 (877) 685 0076
Email: djohnson@parkplaceenergy.com
Website: www.parkplaceenergy.com
Trading symbol: OTCBB:PKPL

Disclaimer: Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Overgas, the Bulgarian subsidiary of Gazprom, appealed the Council of Ministers decision from October 4, 2010 to award the Vranino block to Park Place, on October 25, 2010. The award was announced in the State Gazette issue 80 on October 12, 2010 and the appeal was made within the 14 day appeal period from date of announcement.

The Overgas appeal is not against Park Place but against the Ministry of Energy, Economy and Tourism (MEET) and states that the successful award to Park Place should not be valid due to administrative errors during the process by the MEET. The Court has two options when making its decision, it can either decide that no administrative errors were made by the MEET and enforce the award to Park Place, or it can decide errors were made in the handling of the process by the MEET and order the process to be repeated by the original participants. The court cannot allocate the award at its discretion to a party other than Park Place.

Appeals against decisions from Government Ministries in Bulgaria are common practice and as such the court date has scheduled for October 2011. Park Place has legal counsel following the process closely. Additionally, Overgas is able to withdraw its appeal at any time. Park Place has had discussions with Overgas regarding the possibility of a Joint Venture arrangement not only on the Vranino block but other Overgas properties in Bulgaria including its offshore block.

The company will continue its two prong approach to the appeal and will provide updates to shareholders as developments occur.

Representatives from the Company are conducting due diligence on several possible Bulgarian natural gas exploration joint venture opportunities. The Company intends to meet with active majors within the area as well as begin negotiating the terms of any possible joint venture arrangement at that time.

David Johnson, president Park Place Energy, stated “This is very exciting period for Park Place. There is interest from major producers within our core area of focus in north-eastern Bulgaria to work together and we look forward to discussing all possible options with them.”

Going forward, PetroBulgaria’s mandate will be to identify, acquire and operate oil and gas exploration and production properties in Bulgaria either through direct acquisition from the Ministry of Economy, Energy and Tourism through the Governments bid process or through joint venture opportunities.

Park Place is currently evaluating several options surrounding PetroBulgaria. The Company is currently in discussions with several industry leaders and is evaluating the potential of maintaining PetroBulgaria as a wholly-owned subsidiary as well as the spin-out potential of the subsidiary. Should management decide to move forward with a spinout option, which would see shares of PetroBulgaria distributed on a prorata basis to the then shareholders of Park Place, PetroBulgaria would most likely seek a listing in the Canadian public markets with a capitalization of that company.

Park Place’s award of the Vranino property is now in the appeal process as it is common practice within the industry in Eastern Europe. Company representatives have been in contact with several active majors in the region that have expressed interest in entering joint venture agreements on the Vranino block. The Company is also currently conducting due diligence on several other Bulgarian exploration opportunities that are currently available.

David Johnson, president Park Place Energy, stated “This is a major achievement for Park Place. We have been working diligently to form these relationships and acquire large blue-sky gas exploration land positions. Bulgaria is the ideal environment for a junior exploration company like Park Place to create a substantial presence and move to the next level.”

The Bulgarian Prime Minister, Bioko Borisov, and Head of the Council of Ministers, Rosen Zhelyazkov, have published the Council of Ministers decision to grant the exploration and prospecting permit for crude oil and natural gas to Park Place Energy Corp for Plot 1 – 11 Vranino in the State Gazette, Issue 80 on 12 October, 2010. As outlined in the announcement the Vranino Blocks cover 397.42 Sq Km (39,420 Hectares or 98,204 Acres).

This decision is subject to appeal from other participants in the original competitive bid for 14 days from the date it was published in the State Gazette.

Park Place will provide further information on the property and an update on the process at that point.

The private US based firm has immense experience dealing all over the world designing
and implementing exploration and development projects. They have spent significant
time in Europe, and specifically within the region that Park Place has tendered a bid, and
have experience with the complexities and issues of exploration surrounding these assets.

David Johnson, Park Place President and CEO said " The experience these consultants
bring to the table is invaluable and we look forward to working closely with them to
create the most effective program possible should we win the bid in the European Union.”

Under the agreement, with a private company, the property was acquired in consideration
for an aggregate of 150,000,000 shares at a deemed price of US$0.001 per share for an
aggregate deemed consideration of approximately USD$150,000.

As announced February 3, 2010 Park Place Energy has also tendered a bid on a
significant oil and gas Exploration and Development property within the European
Union.

David Johnson, Park Place President and CEO said " The Company is aggressively
positioning itself as a junior oil and gas explorer by seeking and acquiring blue-sky
potential assets. By completing this acquisition we have created an exciting opportunity
within a proven Canadian oil field.”