SOURCE: Xtreme Oil and Gas

March 29, 2010 09:00 ET

Xtreme Oil & Gas Appoints Rear Admiral Edward Allen to Board

PLANO, TX--(Marketwire - March 29, 2010) -  Xtreme Oil & Gas, Inc. (PINKSHEETS: XTOG) announced today the appointment of Rear Admiral Ed Allen to Xtreme's Board of Directors effective upon the Company's Form-10 being finalized. Admiral Allen is a former U.S. Navy flag officer, a corporate executive and now owns his own Executive Coaching and Consulting business.

Achieving the rank of US Navy Rear Admiral, he led six operational commands before serving on the Joint Chiefs of Staff. The Admiral earned a Master's Degree in International Relations, graduated from the National War College and completed Graduate Business studies in Information Technology. He was awarded the United States Navy League John Paul Jones Award for Inspirational Leadership and the Tailhooker of the Year Award. As a Vice President-Business Development for the Oracle Corporation, Ed focused on e-Business solutions for Department of Defense Agencies and was responsible for Oracle's Leadership and Executive Coaching initiative. He also serves as Vice Chairman of the Board and Regional Director for Cherry Financial Partners, Inc.

Willard McAndrew, CEO of Xtreme, commented, "We are proud to announce that Admiral Allen is joining our Board of Directors. He has a track record of success leading teams through growth phases and will be a powerful addition to Xtreme's strong and growing team."

Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing commercial quantities of oil and gas from properties it owns and operates in Texas and Oklahoma.

The finding and development of oil and gas properties involve significant risks. Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company's ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with the Securities and Exchange Commission.

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