Standard Exploration Ltd
TSX VENTURE : SDE

January 19, 2011 09:00 ET

Standard Exploration Ltd. Announces Strategic Acquisition and Participation in Horizontal Viking Oil Well

CALGARY, ALBERTA--(Marketwire - Jan. 19, 2011) - Standard Exploration Ltd. (the "Corporation") (TSX VENTURE:SDE), has completed an acquisition to acquire a 25% working interest in over 6 sections of land in the Crossfield area of Alberta for $400,000. In exchange for the rights to the land, the Corporation paid $100,000 in cash and issued 726,392 common shares to the vendor at a deemed of value of $0.413/share which was the 10 trading day average closing price of the Corporation's shares prior to January 18, 2011. The transaction is subject to TSX Venture Exchange final acceptance.

The lands are located along a Viking oil resource fairway where there have been 9 horizontal wells drilled to date. Standard is participating for its 25% interest in a horizontal well on the lands which spud on January 7th, 2011. Once drilled, it will be completed using a multistage liquefied petroleum gas fracturing process. This completion process has been successfully used on other Viking horizontal wells in the area. There is a possibility of between 20 – 25 further Viking locations on the lands.

The lands also offset a well recently drilled and is awaiting completion in the liquids rich Ellerslie gas zone.

The Corporation is a Canadian based oil and gas corporation with operations in Alberta, Canada and is traded on TSX Venture Exchange. The Corporation's public filings may be found at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that terms is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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