Cougar O&G Canada Waves Goodbye to President

Cougar Oil and Gas Canada, Inc. announced that Mr Glenn Watt has resigned as President of the Company effective March 31, 2012 to pursue other interests internationally. Mr. Watt will continue on the Board of Directors of the Company and provide a limited amount of consulting for operations while the Company is in CCAA. Mr. Wm Tighe has assumed the role of president in for the interim while the Company continues in CCAA.

While under CCAA protection, the Company will continue with its day to day operations with the assistance of Ernst & Young Inc. in its capacity as the Court-appointed Monitor of the Company. The Company anticipates presenting a restructuring Plan to its creditors in these CCAA proceedings and will issue a further press release on or before May 23, 2012 to provide an update regarding the status of the Plan and the CCAA proceedings generally.

While under the CCAA, the Company will not be filing audited financials on SEDAR or EDGAR.

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