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

March 04, 2011 02:15 ET

Cougar Oil and Gas Canada Inc. Updates First Horizontal Well's Drilling Operations

CALGARY, ALBERTA--(Marketwire - March 4, 2011) - Cougar Oil and Gas Canada Inc. ("Cougar" or the "Corporation") (OTCBB:COUGF) is pleased to provide an update regarding the drilling progress of the Corporation's first horizontal well in the Trout production area.

Drilling operations for the horizontal well, which is targeting light oil from the Keg River formation, commenced on February 21, 2011. The horizontal well is estimated to take a total of 21 to 25 days to drill.

On March 3 the surface casing and the first intermediate casing string had been landed and cemented, effectively isolating and sealing off the severe lost circulation zones that were identified during the well planning. Currently the drilling rig and auxiliary equipment is being used to drill the 'build' section, which will result in the wellbore being directionally steered to reach 90 degrees or horizontal as it enters the Keg River formation. Once horizontal an 800m production leg will be drilled to produce the Keg River oil. Completion operations will begin as soon as the drilling operations are finished.

About Cougar Oil and Gas Canada Inc.:

Cougar Oil and Gas Canada Inc. (OTCBB:COUGF) 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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