Changfeng to Delay Filing of Its 2014 Audited Financial Statements

TORONTO, ONTARIO--(Marketwired - April 30, 2015) - Changfeng Energy Inc. ("Changfeng" or the "Company") (TSX VENTURE:CFY), announces that it is anticipating a delay in filing its 2014 annual audited financial statements, and its related Management's Discussion and Analysis, Chief Executive Officer and Chief Financial Officer certifications, (collectively, the "Required Filings"), which are required to be filed on or before April 30, 2015. The delay has resulted from the discussion of the application of IFRIC 12 - Service Concession Arrangement ("IFRIC 12").

The Company's auditors advised that they were not able to complete their audit by the filing deadline as the Company and its auditors are investigating the impacts of applying the IFRIC 12 on the consolidated financial statements.

The Company is working closely with its auditors to complete above. The application of IFRIC 12 will not have any impact on the Company's statements of cash flows.

The Company has applied for a management cease trading order ("MCTO") with the applicable regulatory authorities until such time that the Required Filings are made. If granted an MCTO, the Company's management and insiders will not buy or sell the Company's shares. The Company will provide updates on progress vis-à-vis the filings via news releases at least once every two weeks. The Company intends to satisfy the provisions of the alternative information guidelines so long as it has not filed the Required Filings.

About Changfeng Energy Inc.

Changfeng Energy Inc. is a natural gas service provider with operations located throughout the People's Republic of China. The Company services industrial, commercial and residential customers, providing them with natural gas for heating purposes and fuel for transportation. The Company has developed a significant natural gas pipeline network as well as urban gas delivery networks, stations, substations and gas pressure regulating stations in Sanya City & Haitang Bay. Through its network of pipelines, the Company provides safe and reliable delivery of natural gas to both homes and businesses. The Company is headquartered in Toronto, Ontario and its shares trade on the Toronto Venture Exchange under the trading symbol "CFY". For more information, please visit the Company website at www.changfengenergy.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

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