March 13, 2008 06:00 ET

Arctic Oil & Gas Appoints Acclaimed Paleontologist, Dr. Jonathan Bujak, to Advisory Board

LAS VEGAS, NV--(Marketwire - March 13, 2008) - Arctic Oil & Gas Corp. (PINKSHEETS: AOAG), a petroleum exploration company, announced the appointment of acclaimed paleontologist/paleoclimatologist, Dr. Jonathan Bujak, to the Company's advisory board. Bujak will predominantly work in the development of arctic abyssal geological and hydrocarbon exploration models, to enhance the success of the Company's drilling for oil and gas.

Bujak brings over 30 years of experience and provides specific expertise in arctic geology, paleontology, and paleoclimatology. His expertise is driven by field and lab work with Robertson Research, Mobil Oil, and PetroCanada, followed by membership in the Geological Survey of Canada, where he worked with geologists and oceanographers at the Bedford Institute of Oceanography, reconstructing the historical periods of the Atlantic, from Triassic to Recent.

Since 1982, Dr. Bujak has been Senior Partner of Bujak Research, Ltd., based in Canada and the U.K., providing consulting expertise to both governments and industry. Publications include over 100 articles. He brings recognized specialized biostratigraphic expertise for the North Sea and Shetland Islands and has aided in resolving equity disputes in those areas.

Peter Sterling, Arctic CEO, stated, "We proudly welcome Dr. Bujak into the Arctic family and believe that his existing expertise and status in both governmental and oil industry communities will greatly aid us in our march to success. Dr. Bujak's current focus has been on the oceanographic and climate history of the Arctic, which will help us accelerate our drilling initiative."

About Arctic Oil & Gas

Arctic Oil & Gas representatives have filed a claim with the United Nations General Assembly and the countries of Canada, Russia, United States of America, Norway and Denmark, claiming, as a responsible oil and gas development agent of the "common heritage of mankind," the sole and exclusive exploitation, development, marketing and extraction rights to the oil and gas resources of the seafloor and subsurface contained within the entire Arctic Ocean Common area beyond the exclusive economic zone of the Arctic Ocean's surrounding countries called the "Arctic Claims." The Company intends to operate as the "lead manager" tasked to create a multinational joint venture consortium of major oil companies, whose technology and managerial expertise will be vital to recovering the oil and gas from beneath the harsh, deep waters of the Arctic in an environmentally safe manner.

Please visit www.arcticoag.com.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with oil & gas exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect AOAG's financial results is included in its filings with the Securities and Exchange Commission.