Stetson Appoints Vice President Corporate Development

CALGARY, ALBERTA--(Marketwire - April 16, 2012) - Stetson Oil & Gas Ltd. ("Stetson" or the "Company") (TSX VENTURE:SSN) is pleased to announce that it has appointed Mr. John Rak as Vice President Corporate Development.

Mr. Rak was recently a partner and Vice President of Investment Banking at a private Toronto based investment bank where he was responsible for the firm's oil and gas activities. Mr. Rak will be based out of the Company's office in Vancouver.

In connection with his appointment, Mr. Rak has been granted 100,000 stock options at an exercise price of $0.18. The options shall vest immediately, subject to a four month regulatory hold. The options remain subject to regulatory approval and will expire on April 16, 2017.

The Company also announces that it is actively searching for a full time Chief Executive Officer and management team to pursue and evaluate new exploration and production growth opportunities available to Stetson. The Company expects to provide an update in due course.

About Stetson Oil & Gas Ltd.

Stetson is a junior oil and gas company with exploration, development, and production programs in Saskatchewan and Alberta, Canada and North Dakota, USA.

Cautionary Note Regarding Forward-Looking Information: This press release contains "forward looking information", within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the search for, and appoint of, new officers of the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social risks and uncertainties; risks relating to oil and gas exploration and exploitation activities; oil and gas prices; transaction risks; and delays in obtaining regulatory approvals. Although Stetson has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Stetson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.