Cruiser Oil & Gas Ltd.

Cruiser Oil & Gas Ltd.

August 23, 2005 13:15 ET

Cruiser Announces the Addition of John Aylward as VP Exploration

CALGARY, ALBERTA--(CCNMatthews - Aug. 23, 2005) - Cruiser Oil & Gas Ltd. (TSX VENTURE:COG) ("Cruiser" or the "Company") is pleased to announce that Mr. John Aylward has joined the Company as Vice-President of Exploration, effective August 15, 2005. Mr. Aylward brings 24 years of broad and successful domestic and international experience to the Company. John has worked for such companies as Rife Resources, Waterous & Co., Jordan Petroleum and Texaco, amongst others. As a member of the management team, John will be responsible for all geological and geotechnical aspects of the Company, as well as the evaluation and development of new opportunities contributing to the growth of Cruiser.

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

Cautionary Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. The Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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