Halliburton Enters Servicing Contract with Cheetah Oil & Gas

Cheetah Oil & Gas has entered into an agreement with Halliburton whereby Halliburton will provide servicing equipment and all necessary support to the Company for its upcoming re-entry of the Kuru #2 well.

"We are extremely pleased to be able to add Halliburton's expertise to our exploration program in Papua New Guinea. We look forward to a strong alliance with Halliburton." said Douglas Marshall, P.Eng, Cheetah Oil & Gas Ltd. Drilling and Operations Manager.

"Our understanding of the Darai formation at Kuru #2 is such that we have high expectations for this well." said Garth Braun CEO and Chairman of Cheetah Oil & Gas Ltd.

The Company holds a 100% working interest in the Kuru structure on Petroleum Retention Licence #13 located in South-central Papua New Guinea. Petroleum Retention Licence #13 covers a total of 40,028 acres with the Kuru structure being approximately 15 kilometers in length and 3.5 kilometers wide.

The Company will be releasing additional information regarding the proposed re-completion program for Kuru #2 and the expected start of operations in the near future.

The Company is evaluating and exploring for energy resources on its five 100% owned and operated Petroleum Prospecting Licences and one Petroleum Retention Licence covering approximately 8.3 million acres in Papua New Guinea.