Derek Oil & Gas Corporation
TSX VENTURE : DRK

Derek Oil & Gas Corporation

June 05, 2007 08:30 ET

Derek Oil & Gas Corporation Welcomes New Board Member to Increase International Exposure

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2007) - Derek Oil & Gas Corporation (TSX VENTURE:DRK) is very pleased to welcome Mr. Eike Hamer to the Derek Board of Directors, subject to regulatory approval.

Mr. Hamer holds a Masters in Business Administration (MBA) from the University of Rostock in Germany with extensive studies at the University of Bonn and the University of Osnabruck.

Mr. Hamer is current publisher of "Wirtschaft aktuell". Wirtschaft aktuell is a news letter providing background information on political and economic developments in Europe. The publication was formerly based in Zurich Switzerland and is now attached to the "Mittelstandsinstitut Niedersachsen". The Middelstandsinstitut Niedersachsen was founded more than 30 years ago and is one of the most prestigious research institutes for entrepreneurs globally.

Mr. Hamer is a member of the executive board of the "Deutsche Mittelstandsstiftung", a well known foundation in Germany and is the current CEO of ELUX Wealth Management, an investment advisory corporation.

With the addition of Mr. Eike Hamer on the Derek Board of Directors, the Company will strengthen its presence, knowledge and corporate development strategies in European markets.

Derek Oil & Gas Corporation is a Canadian based, publicly traded oil exploration, development and production company that utilizes enhanced oil recovery (EOR) techniques to develop new production from reservoirs in North America. Derek's current focus is on the further development and increasing production from their prime property located in NE Wyoming's prolific Powder River Basin.

Derek Oil & Gas Corporation is trading in Canada on the TSX Venture Exchange with the symbol DRK.

ON BEHALF OF THE BOARD

Mr. Barry C.J. Ehrl, President and C.E.O.

This document includes forward-looking statements. Forward-looking statements include, but are not limited to, the continued advancement of Derek Oil & Gas Corporation's LAK Ranch project. When used in this document, the words "potential", "plan", "could", "estimate", "expect", "intend", "may", "should", and similar expressions are intended to be among the statements that identify forward-looking statements. Although Derek believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that Derek's LAK Ranch project will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, and other risks.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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