Richards Oil & Gas Limited Announces Grant Of Incentive Stock Options



    CALGARY, April 18 /CNW/ - Richards Oil & Gas Limited (the "Company"),
(TSX Venture: RIX) announces that the Board of Directors of the Company have
granted 250,000 stock options to officers and directors at an exercise price
of $0.72 per common share, expiring on April 18, 2012. With the addition to
these grants announced today the Company currently has 3,675,000 stock options
outstanding that have been granted pursuant to its stock option plan.
    The Company also announces an amendment to the previously issued options
as announced on April 13, 2007. The exercise price of the options issued to
Mr. Brad Turner, President and Chief Executive Officer have been amended to
$0.72 per common share from the previously reported price of $0.70 per common
share.

    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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