Ryland Oil Appoints New VP of Corporate Development

Gerald Shields, President of Ryland Oil Corporation, has announced the appointment of James Welykochy, P. Geol., MBA as Vice President, Corporate Development of the Company. Welykochy has more than 27 years of experience in a variety of professions in the oil and gas industry.

Prior to joining Ryland, Welykochy served as Vice President of Institutional Sales for PI Financial Corp. where, working from its Calgary office, he was responsible for developing and maintaining relationships with institutional clients with a focus on Canadian listed junior oil and gas companies. From January of 2006 to March of 2007, Welykochy was an oil and gas analyst with Genuity Capital Markets, having previously served in similar capacities with Acumen Capital Finance Partners and Jennings Capital Inc. From February to October of 2005, Welykochy served as President of COSCO Canada Ltd., the Calgary-based subsidiary of COSCO Capital Management LLC of New York, where he was responsible for arranging financings for the firm's energy industry clients as well as advising on acquisitions, mergers and divestitures. He has also served in investment banking and corporate finance positions with Calgary - based Rogers & Partners Securities Inc. and the Calgary office of Loewen, Ondaatje McCutcheon Ltd. From 1981 to 1998, Welykochy worked as an independent oil and gas geological consultant. Welykochy has his MBA from the Richard Ivey School of Business at the University of Western Ontario and a B.Sc. in Geology from the University of New Brunswick. He is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta and the Canadian Society of Petroleum Geologists. Welykochy will be based in Calgary.

"We are delighted to have someone with Mr. Welykochy's credentials join or management team," said Shields. "His extensive experience as a practicing geologist prior to moving into corporate finance gives him a unique skill set within the oil and gas industry. We expect him to play a key role in helping us grow and manage our business."

The Company also announces that it has granted options to acquire a total of 500,000 common shares of the Company to an employee and officer of the Company at the exercise price of CDN$1.77 each for a period of 5 years.


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