Anglo Canadian Oil Corp.
TSX VENTURE : ACG

Anglo Canadian Oil Corp.

January 27, 2011 09:00 ET

Anglo Canadian Oil Corp. Provides Operations Update

CALGARY, ALBERTA--(Marketwire - Jan. 27, 2011) - Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) has initiated production on the Sturgeon Lake S. 5-10 well. Load water is currently being pumped from the well and reliable production volumes should be known within 3 weeks while the well is brought to optimum production rates.

Geophysical and geological work is progressing on the Mannville and Bakken plays in the Kindersley/Dodsland area of Southwest Saskatchewan. Anglo anticipates two to three wells will be drilled into potential new oil pools during the winter drilling season subject to spring break-up and regulatory requirements.

Anglo holds approximately twenty-six sections of potential Mannville and Bakken oil bearing lands in Southwest Saskatchewan.

In addition, work on the Nordegg oil shale play is moving forward with the analysis and interpretation of 146 km of 2D seismic. The seismic interpretation will assist Anglo in determining potential drilling locations which may hold higher levels of natural fractures, ultimately aiding in improved potential oil production rates.

Work is also progressing in evaluating hydraulic fracture design and development. New technologies in this area are continually evolving. Potential hydraulic frac types under review by Anglo are CO2 foam, N2 foam, hydrocarbon and acid. Other considerations include optimizing sand size to improve conductivity. Anglo expects to resume field work in the Nordegg play, including drilling, after spring breakup when equipment availability has improved.

Anglo holds 269 sections of potential Nordegg shale oil bearing lands in West Central Alberta.

Anglo's Nordegg lands hold 6.47 billion barrels of oil resource, as determined by AJM Petroleum Consultants, the full report which can been viewed in it's entirety on 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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