Anglo Canadian Oil Corp.
TSX VENTURE : ACG

Anglo Canadian Oil Corp.

June 17, 2011 08:00 ET

Anglo Canadian Oil Corp. Secures Pooling/Farm-In Agreement

CALGARY, ALBERTA--(Marketwire - June 17, 2011) - Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) is pleased to announce that it has secured a Pooling/Farm-in Agreement ("Agreement") with Quatro Resources Inc. ("Quatro').

Under the terms of the pooling of lands agreement, Anglo will contribute five sections of prospective Nordegg bearing lands while Quatro will contribute seven sections of prospective Montney and Nordegg bearing lands. Quatro will maintain, under the terms of the pooling, a 70% W.I. in the pooled lands while Anglo will retain the remaining 30%. All Quatro and Anglo lands are adjacent and are in the Ante Creek North area of West Central Alberta.

In addition to providing a cost effective summer access, the Agreement provides Anglo with a second target, the Montney, at little to no extra drilling cost.

Anglo is committed to drilling one Montney/Nordegg on the original Quatro acreage, thereby earning a 75% W.I. in four sections of the pooled lands.

Two option wells are contemplated within the agreement. The first option well drilled by Anglo will earn Anglo a 75% W.I. in 3 additional sections of the pooled lands while the second option well will earn Anglo a 75% W.I. in the remainder of the pooled lands.

The commitment well is expected to spud in August, pending regulatory approvals, weather and equipment availability.

Also, the Dodsland 6-22 and 4-29 wells have both been drilled and cased. The completion of 6-22 has commenced.

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".

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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