CIM Investment Management Limited provides updated information on interest in
Stream Oil & Gas Ltd.

TORONTO, Jan. 5 /CNW/ - CIM Investment Management Limited ("CIM") wishes to announce a reduction in the percentage of the outstanding common shares ("Shares") of Stream Oil & Gas Ltd. ("Stream") that it controls, from the 15.68% reported in its press release of 22nd July 2009 to 9.87%.

CIM has control over the Shares held by each of CIM Special Situations Fund Limited ("CSSF") and CIM Discovery Fund Limited ("Discovery") (together, the "Controlled Entities").

The change in the percentage of the outstanding Shares controlled by CIM is primarily the result of the issuance of 736,192 shares by Stream announced in the Stream press release dated September 2, 2009, the expiration of 2,132,516 warrants held by the Controlled Entities on August 2, 2009, as well as of the disposition of 376,500 Shares by the Controlled Entities in several transactions on the TSX Venture Exchange in the ordinary course of business since 22nd July 2009.

As a result of the foregoing, as of January 5, 2010, CIM has control or direction over an aggregate of 3,888,481 Shares (CSSF holds 1,590,428 Shares and Discovery holds 2,298,053 Shares), representing approximately 9.87% of the issued and outstanding Shares, based on a total of 39,416,533 Shares issued and outstanding, as reported in Stream's most recent financial statements filed on SEDAR.

The Shares held by the Controlled Entities are for investment purposes.

The Controlled Entities may, from time to time acquire additional securities of Stream, dispose of some or all of the existing or additional securities, or may continue to hold the current position.

For more information, please contact Ashley Retter of CIM Investment Management Limited.

CIM Investment Management Limited is incorporated under the laws of England which is authorized and regulated by the Financial Services Authority (FSA Firm Reference Number 443440). CIM Investment Management is an asset management company which manages, amongst others, Funds on behalf of the CIM Special Situations Fund Limited and CIM Discovery Fund Limited.

SOURCE CIM INVESTMENT MANAGEMENT LIMITED

For further information: For further information: Ashley Retter, CIM Investment Management Limited, 1 Regent Street, London, SW1Y 4NS; CIM Special Situations Fund Limited , P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin Islands; CIM Discovery Fund Limited, P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin Islands

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CIM INVESTMENT MANAGEMENT LIMITED

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