Cruiser Oil & Gas Ltd.

Cruiser Oil & Gas Ltd.

June 18, 2008 22:47 ET

Cruiser Announces Change in Management and Appointment of New Director

CALGARY, ALBERTA--(Marketwire - June 18, 2008) - Cruiser Oil & Gas Ltd. ("Cruiser" or the "Company") (TSX VENTURE:COG) would like to announce that Doug Meiklejohn has resigned as the President and Chief Executive Officer of the Company effective immediately. Ray Smith, the Chairman of the Board of Directors of Cruiser, has been appointed the interim Chief Executive Officer of the Company.

The Board of Directors of Cruiser would like to thank Mr. Meiklejohn for his many years of hard work and dedicated service as President and Chief Executive Officer of the Company.

Cruiser is also pleased to announce that Kelsey Clark has been appointed to the Board of Directors of the Corporation. Kelsey practices in the area of securities and mergers and acquisitions with Burnet, Duckworth & Palmer LLP. Prior to joining Burnet, Duckworth & Palmer LLP, Kelsey practiced in London, England with the finance group at Freshfields Bruckhaus Deringer where he advised international energy companies on financing the acquisition, development and growth of their international energy projects.

About Cruiser Oil & Gas Ltd.

Cruiser Oil & Gas Ltd. is a public junior oil and gas company engaged in the exploration, exploitation, acquisition and production of petroleum and natural gas in Western Canada. Cruiser is focused on re-entry and new drilling of multi-zone gas and oil prospects west of the fifth meridian.

Cruiser Oil & Gas Ltd. trades on the TSX Venture exchange under the symbol COG.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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