CDS Welcomes a New Strong Shareholder

CDS Oil & Gas was notified on October 18, 2007, that on September 25, 2007, Petro-Saudi Ltd Inc. acquired from Westmount Energy Ltd 3,762,268 ordinary shares in the Company. After consolidation of other purchases in the market between that date and October 17, 2007, Petro-Saudi Ltd Inc. today owns a total of 8,296,530 shares in the Company and holds the voting rights in respect of approximately 8.16% of the total voting rights in the Company.

Petro-Saudi Ltd Inc, an affiliate of PetroSaudi International Ltd, a privately owned oil and gas exploration company, is involved in oil and gas ventures in many countries around the globe.