Richards Oil & Gas Limited Announces Appointment of Directors and forms Audit, Reserve and Compensation Committees



    CALGARY, June 18 /CNW/ - Richards Oil & Gas Limited (the "Company"),
(TSX Venture: RIX) announces that it has appointed a new Board of Directors at
its Annual General Meeting held June 13, 2007.
    The number of Directors has been increased to seven (7) and includes the
following individuals:

    
    -------------------------------------------------------------------------
    Dr. Brian Moss (Calgary, Alberta)     President and Chief Executive
                                          Officer of Los Altares Resources
                                          Ltd.
    -------------------------------------------------------------------------
    Lyell Farquharson                     Management Consultant
    (Mississauga, Ontario)
    -------------------------------------------------------------------------
    Brad Turner (Calgary, Alberta)        President and Chief Executive
                                          Officer of Richards Oil & Gas
                                          Limited
    -------------------------------------------------------------------------
    David Moscovitz (Toronto, Ontario)    Consultant of Fraser Milner
                                          Casgrain LLP
    -------------------------------------------------------------------------
    Roy Smitshoek (Calgary, Alberta)      Vice-President (Engineering) of
                                          Storm Ventures International Inc.
    -------------------------------------------------------------------------
    John Morgan (Calgary, Alberta)        President of Vannessa Ventures Ltd.
    -------------------------------------------------------------------------
    Brad Van Den Bussche                  Vice President Exploration of
    (Calgary, Alberta)                    Richards Oil & Gas Limited
    -------------------------------------------------------------------------

    Directors have been appointed to committees as follows:

        Audit Committee: Lyell Farquharson (Chair), David Moscovitz and
        John Morgan
        Reserves Committee: Roy Smitshoek (Chair), Brian Moss and
        John Morgan
        Compensation Committee: David Moscovitz (Chair), Lyell Farquharson
        and Roy Smitshoek
    

    Brian Moss, who was appointed Chairman of the Board of Directors, states,
"This Board has great depth of experience in the oil & gas industry as well as
engineering, geology, accounting, management and law that will provide
excellent representation and value for the shareholders."

    Richards Oil & Gas Limited (www.richardsoilandgas.com) is a Calgary-based
exploration company, involved in the development of crude oil and natural gas,
with an emphasis on the exploitation of coal bed methane (CBM). With a
significant land base and industry-leading experience in the development of
CBM projects, the Company is at the forefront of the CBM industry in Western
Canada. The Company is able to capitalize on opportunities that create both
short-term cash flow and long-term value for its shareholders.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.

    %SEDAR: 00021365E




For further information:

For further information: Brad Turner, President & CEO, Richards Oil &
Gas Limited, Tel: (403) 265-8444, E-Mail: bturner@richardsoilandgas.com; Lonn
Bate, CFO, Richards Oil & Gas Limited, Tel: (403) 265-8444, E-Mail:
lbate@richardsoilandgas.com

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Richards Oil & Gas Limited

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