SOURCE: Arctic Oil & Gas Corporation

March 19, 2008 06:00 ET

Arctic Oil & Gas to Combine Electromagnetic and Seismic Data to Locate Arctic Hydrocarbons

LAS VEGAS, NV--(Marketwire - March 19, 2008) - Arctic Oil & Gas Corp. (PINKSHEETS: AOAG), a petroleum exploration company, expects its success in locating hydrocarbons to focus on Marine Magneto-Tellurics (MMT), a form of electromagnetic (EM) data acquisition technology, which should fit the criteria of the "Arctic Commons." The MMT data will be combined with seismic data to produce a hydrocarbon map or model of the targeted region.

Initially, Arctic, in coordination with its geo-scientific experts, will target a section of the "Arctic Commons," since the region consists of over 80 million acres, which would create extraordinary first tier costs. Arctic expects to determine its targeted section, based on the advice of its experts during the next 60-90 days, preparing it for the best data acquisition season for the region.

Peter Sterling, Arctic CEO, stated, "We are in the midst of extraordinary advances in geoscience data acquisition. We believe that our timing in the course of scientific history will allow us to discover resources and their location formerly only obtainable by luck and educated guesses. We are most fortunate."

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.

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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.

Contact Information

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    Phone: 702.953.9688
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