Ripper Oil and Gas Poised to Acquire Interest in Properties

Ripper Oil and Gas has executed an Agreement of Purchase and Sale, dated December 18, 2007 and effective December 1, 2007, to acquire various interests in properties in core areas where the corporation or its wholly owned subsidiary holds pre-existing interests.

This acquisition was made in exchange for 350,000 common Ripper shares at a deemed price of $0.305 per share and $130,000 cash, subject to a four month hold period, and is an arm's length transaction.