Anglo Canadian Oil Corp.
TSX VENTURE : ACG

Anglo Canadian Oil Corp.

July 22, 2011 08:00 ET

Anglo Announces Mannville Farm-Out and New CFO

CALGARY, ALBERTA--(Marketwire - July 22, 2011) - Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) is pleased to announce that it has entered into a farm-out agreement with Vesta Energy Ltd. ("Vesta") whereby Vesta will commit to drilling a well into the Mannville zone at 100% working interest ("W.I.") to earn 75% W.I. on the first three section block. Vesta has a rolling option under the same terms on a second and third block containing approximately three sections each.

The first well is to commence drilling on or before October 31, 2011 subject to rig availability and regulatory approval.

These farm-out lands constitute a portion of the 140 sections (89,600 acres) of 100% W.I. land Anglo had leased at the Alberta Crown sales in March and April of this year, primarily for Duvernay and Beaverhill Lake potential. Anglo is pleased that this latest land purchase has resulted in such a prompt interest from a third party, lending credence to the integrity of Anglo's technical team.

The Corporation is also pleased to announce that Rene P. Beaumier has been appointed Chief Financial Officer of the Corporation. Mr. Beaumier is a Chartered Accountant with more than 20 years of financial experience in the oil and gas, and electricity industries in progressively more responsible management and operational roles. Mr. Beaumier is a welcome addition to the Anglo team. Mr. Beaumier's appointment is conditional upon approval of the TSX Venture Exchange.

The Corporation would like to thank the outgoing CFO, James Brander for his years of excellent service with Anglo. Mr. Brander is leaving Anglo to focus solely on his private business practice due to recent growth.

Anglo is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Common Shares are listed on the TSX Venture Exchange under the trading symbol "ACG".

For further information please visit the Anglo website at http://www.anglocanadianoil.com/.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained herein may constitute forward-looking statements Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

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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