Cheetah Oil & Gas Ltd.
OTC Bulletin Board : COGL

Cheetah Oil & Gas Ltd.

September 28, 2005 09:00 ET

Cheetah Oil & Gas Ltd.: Geological Program to Advance Additional Drill Targets

CALGARY, ALBERTA--(CCNMatthews - Sept. 28, 2005) - Cheetah Oil & Gas Ltd., (OTCBB:COGL) (the "Company" or "Cheetah") announces additional details of its current geological program.

Phase 1 of the geological program is scheduled to begin Oct.5 2005.The initial component of the program will consist of extensive surface sampling and structural measurements over the Kuru, Middletown, Victory Junction, and S.E. Iehi leads. The Company considers this to be an extensive, detailed sampling program that will enhance its understanding of the prospective geology of the oil and gas rich area, ultimately contributing towards the determination of additional seismic lines and future drill targets.

The leads being focused on are all located within PPL246 and PRL13, which are in turn part of the Company's 8.3 million acre land position in Papua New Guinea.

The samples will be strontium (Sr) age-dated at the CSIRO laboratory located in Sydney, Au. Results will be tabulated and utilized to improve mapping and the construction of balanced cross sections and to determine the placement of future 2d seismic lines.

The Company is evaluating and exploring for energy resources on its five 100%-owned and operated Petroleum Prospecting Licences and one Petroleum Retention License of approximately 8.3 million acres in Papua New Guinea.

Disclaimer: The Company relies upon the Safe Harbor Laws of 1993, 1934, and 1995 for all public news releases. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Little infrastructure currently exists to support oil or gas production in many areas of Papua New Guinea. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Although it is impossible to identify all such factors they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are either significantly higher or lower than anticipated; and from the number of exploration opportunities being greater or fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.

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