Cougar Oil and Gas Canada Inc.
OTC Bulletin Board : COUGF

February 24, 2011 00:22 ET

Cougar Oil and Gas Canada Inc. Announces Spudding of Horizontal Well

CALGARY, ALBERTA--(Marketwire - Feb. 24, 2011) - Cougar Oil and Gas Canada Inc. ("Cougar" or the "Corporation") (OTCBB:COUGF) is pleased to announce the spudding of the first well in its multi well drill program late in the day on February 21, 2011.

The horizontal well is targeting light oil from the Keg River Formation, the common producing zone in the Trout area of northern Alberta. The target was chosen from the 3D seismic purchased and reprocessed using newer technology in September 2010. The 3-D seismic program on adjoining Cougar lands is currently being processed and interpreted to further delineate multiple horizontal drilling locations on those lands. We are also using an innovative intermediate casing design toeliminate future Wabamun zone casing corrosion which will eliminate some of ongoing maintenance costs and reduce our overall operating costs.

The horizontal drilling project is expected to take approximately 4 weeks to complete.

About Cougar Oil and Gas Canada Inc.:

Cougar Oil and Gas Canada Inc. (COUGF:BB) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are the Trout light oil production area in north central Alberta, Lucy in the Horn River Basin in northeast British Columbia and First Nation Joint Venture and area projects located in north central Alberta.

Additional information is at http://www.cougaroilandgascanadainc.com. or http://www.cougarenergyinc.com.

Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov) or (SEDAR in Canada). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.

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