SOURCE: Cobra Oil & Gas

August 10, 2009 08:50 ET

Cobra Oil & Gas Announces Clarifying Press Release

HOUSTON, TX--(Marketwire - August 10, 2009) - Cobra Oil & Gas Company (OTCBB: CGCA) (hereafter "Cobra") announced the correction of a press release issued on July 23, 2009 titled "Cobra Oil & Gas Provides Technology Update for Utah Oil Sands Prospect" which made incorrect references to Cobra's relationship with Dr. Daulat Mamora, Dr. Mamora's relationship with Rocky Mountain Consulting and Cobra's right to utilize the In-situ Combustion Process in any tar sands extraction activities it may engage in.

At this time Dr. Mamora has no relationship with either Cobra or Enercor, Inc., the Nevada corporation that entered into Purchase Agreements with Cobra on each of July 25, 2009 and August 5, 2009. Dr. Mamora has however, served as a consultant for UOS Energy, LLC., the predecessor in interest of certain of Enercor, Inc.'s and Enertech Energy, Inc.'s rights, with regard to the property that it is the subject of the July 25, 2009 Purchase Agreement. Although Cobra and Dr. Mamora may enter into a consulting agreement or establish a similar relationship in the future, there can be no assurance given that they will do so.

Further, Dr. Mamora has no relationship with and has never had a relationship with Rocky Mountain Consulting ("Rocky Mountain"). Rocky Mountain serves as a consultant for Enercor, Inc. with respect to certain drilling, permitting and oil and gas operating activities and has no present relationship with Cobra. The specific In-situ Combustion Process technology expected to be utilized by Cobra was developed by Dr. Milind Deo of the University of Utah.

UOS Energy, LLC has assigned its ISC rights through Enertech Energy, Inc. to Enercor who will grant its application to Cobra before the production process begins. The use of ISC is expected to be employed with the oversight of Rocky Mountain Consulting.

Any statements made in the July 23, 2009 press release that are inconsistent with statements made herein are inaccurate and should not be relied upon.

About Cobra Oil & Gas Co.

Cobra Oil & Gas Co. is a publicly traded independent oil and gas exploration and production company headquartered in Houston, Texas (OTCBB: CGCA). Shareholders and prospective investors are encouraged to visit Cobra Oil & Gas's website: http://www.cobraoilgas.com and to subscribe to the email newsletter. Please feel free to call our investor relations toll-free at 1-866-503-8613 if you have any questions.

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management.

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