Cougar Oil and Gas (OTC:COUGF) Announces Acquisitions

Shawshank, VA 4/28/2011 (PennyPayDay) -- Cougar Oil and Gas Canada (OTC:COUGF) announced today, in a press release, that it has closed the acquisition of several operated and non-operated oil and natural gas properties in Alberta. Shares of Cougar closed up slightly at $2.80 per share on light volume.

Cougar acquired the Properties from a private company. The Properties include the following assets;

-- 4 producing non-operated CBM gas wellsand associated gathering and
production facilities located in Central Alberta with a net production
of approximately 25 BOEPD.

-- 3 suspended Cardium oil wells located in central Alberta with the
potential to reactivate 2 of the wells this summer for an estimated net
production of 25bbl per day. The wells are also located in an area that
has recently proven successful for horizontal Cardium oil development.

-- 5 standing natural gas wells in central and southern Alberta. These
wells require additional workover and/or tie-in work and will be
evaluated for development, farmout or divestiture.

-- 3200 net acres of mineral rights adjacent to Cougar's oil producing
Alexander property. These mineral rights include all P&NG rights and
will be evaluated for oil production potential.

On April 25. 2011 Cougar received notification that the ERCB had approved the transfer of the operated wellbores included in the acquisition of the newly acquired properties. Payment for the properties included Cougar assuming the abandonment liability for the Properties and forgiving an outstanding Accounts Receivable from the private company.

Mr. William Tighe, CEO and Chairman of the Board for Cougar stated, 'We are delighted that this asset acquisition has closed. The acquisition did not have a debt or equity cost to the Corporation and it had an immediate strategic value. It provides access to a defined Cardium horizontal oil prospect, a profitable CBM natural gas production field with a long reserve life and an undeveloped land base close to our Alexander oil prospect."

Additional information is at www.cougarenergyinc.com.

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