Greentree Gas & Oil Expands Ontario Assets

Greentree Gas & Oil has signed a letter of intent with Shiningbank Energy to purchase Shiningbank's Ontario interests in the Rodney oil field and Innerkip gas field for $16,750,000. The letter of intent is subject to a number of conditions including completing due diligence, satisfactory financing, Shiningbank and Greentree board approval and regulatory approvals.

Patrick O'Meara, Chairman of the Board of Greentree, stated, "We are pleased to be proceeding with this acquisition. Shiningbank's Rodney oil assets adjoin our own Rodney assets and are immediately north of our new Rodney South oil field currently being developed. The Innerkip gas field is also an excellent complement to our Norfolk gas properties. We look forward to completing this transaction and taking our company to the next plateau in its development."

Greentree Gas & Oil Ltd. is a Canadian junior exploration company based in London, Ontario, Canada. The company has 30,365,299 common shares outstanding.