Ryland Oil Corporation
TSX VENTURE : RYD

Ryland Oil Corporation

January 07, 2008 08:00 ET

Ryland Subsidiary Removed as Party to U.S. Legal Action

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 7, 2008) - Ryland Oil Corporation (the "Company") (TSX VENTURE:RYD) announces that its wholly owned Canadian subsidiary, Pebble Petroleum Inc. ("Pebble") has been removed as a party to the legal action previously announced on November 12, 2007. The legal action was commenced by Zavanna LLC and three affiliated corporations against Pebble and eight other defendants in Colorado and concerns the acquisition by Pebble of its Saskatchewan properties. The plaintiffs have filed an amended summons and complaint which removes Pebble as a named defendant. The Company and Pebble learned of the action and dismissal through one of the defendants. Pebble was never served with the original or amended summons and complaint, nor has Pebble or the Company otherwise been contacted by the plaintiffs or their legal counsel.

Shares Issued and Outstanding: 130,754,259

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this news release, and no regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Ryland Oil Corporation
    Gerald J. Shields
    President
    (604) 742-2528
    (604) 736-5004 (FAX)