Stetson Oil & Gas Ltd.
TSX VENTURE : SSN

Stetson Oil & Gas Ltd.

January 28, 2010 16:01 ET

Stetson Appoints Ahmed Said as Interim President & C.E.O.

CALGARY, ALBERTA--(Marketwire - Jan. 28, 2010) - STETSON OIL & GAS LTD. (TSX VENTURE:SSN) ("Stetson") The Board of Directors of Stetson today announces the appointment of Mr. Ahmed Said, as Interim President & Chief Executive Officer.

Mr. Bill Ward has tendered his resignation as President, CEO and a director effective immediately. The Board of Directors of Stetson would like to thank Mr. Ward for his contribution to Stetson and wish him success in his future endeavours

Ahmed Said shall assume the duties of Interim President & C.E.O. in addition to his present role as Chairman of the Company until the Board of Directors appoints a permanent successor to Mr. Ward.

Stetson is an emerging junior oil and gas company with exploration, development, and production programs in Saskatchewan and Alberta, Canada and North Dakota, USA.

Cautionary Note Regarding Forward-Looking Information: This press release contains "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect of the resignation and appointment on the Company; reserve estimates; estimates regarding future production; the receipt of regulatory approvals; expected management rationalization and benefits therefrom; and the future financial and operating performance of Stetson and its projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social risks and uncertainties; risks relating to oil and gas exploration and exploitation activities; oil and gas prices; acquisition risks; risks relating to greater resources, time and attention will be spent on the Acquisition than anticipated; and delays in obtaining regulatory approvals. Although Stetson has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Stetson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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 RELEASE.

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