Greentree Gas & Oil Ltd.
TSX VENTURE : GGO

Greentree Gas & Oil Ltd.
Echo Energy Canada Inc.
TSX VENTURE : EEI

Echo Energy Canada Inc.

November 04, 2009 17:31 ET

Greentree Gas & Oil Ltd. and Echo Energy Canada Inc. Terminate Negotiations.

LONDON, ONTARIO--(Marketwire - Nov. 4, 2009) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.

Duncan Hamilton, President of Greentree Gas & Oil Ltd. (TSX VENTURE:GGO) ("Greentree") and Charles Edey, President of Echo Energy Canada Inc. (TSX VENTURE:EEI) ("ECHO") announced today that they have terminated the negotiations previously announced in a press release dated September 30, 2009.

In a joint statement, Hamilton and Edey said, "The negotiations concerning possible joint operations and other possible transactions did not reveal the potential we had hoped to find."

About Greentree Gas and Oil Ltd.

Greentree Gas & Oil Ltd. is based in London, Ontario and is an explorer and producer of oil and natural gas in southwestern Ontario.

About Echo Energy Canada Inc.

Echo Energy Canada Inc. is a publicly traded energy company with revenue producing natural gas production operations near Port Burwell Ontario, Canada on the shores of Lake Erie.

Statements in this news release that are not historical facts, including statements about plans and expectations regarding properties, reserves, transactions and opportunities, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing gas and commodity prices and currency exchange rates, demand for gas, lack of success of future exploration and development, competition and other factors discussed from time to time in the company's filings with the Ontario Securities Commission.

Greentree Gas & Oil Ltd.: Issued Common Shares: 54,038,463

Echo Energy Canada Inc.: Issued Common Shares: 60,208,086

Neither the 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 news release.

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