Richards Oil & Gas Limited announces grant of incentive stock options



    CALGARY, April 13 /CNW/ - Dr. Brian Moss, Chairman of the Board of
Directors of Richards Oil & Gas Limited (the "Company"), (TSX Venture: RIX)
announces that in connection with the appointment of Mr. Brad Turner as the
President and Chief Executive Officer of the Company, the Board of Directors
of the Company have approved the grant of 100,000 stock options to Mr. Turner
at an exercise price of $0.70 per common share, expiring on April 13, 2012. In
addition to the grant announced today the Company currently has 3,330,000
stock options outstanding that have been granted pursuant to its stock option
plan.

    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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