Richards Oil & Gas Limited Provides Update on its Ardley Drilling Operations



    CALGARY, Dec. 10 /CNW/ - Richards Oil & Gas Limited (the "Company"), (TSX
Venture: RIX) announces the completion of its drilling operations on the well
at the Company's Ardley Coalbed Methane ("CBM") property in Ansell Alberta.
    The Company has finished drilling a multi-lateral horizontal well into
the Ardley coal formation on its Ansell property. This well was an extension
of the horizontal well drilled in July of this year that was originally
drilled using an experimental "dry" drilling process. The Company has extended
the original 50 metre horizontal single leg well into a multi-lateral well
with an additional two horizontal legs totaling 350 metres into the Ardley
coals. These extensions were achieved by using a system designed to provide
effective drill bit lubrication and clearing of drill cuttings while not
saturating the coal formation with water or other fluids that could adversely
impact the future gas productivity from the Ardley coals.
    The Company has released the drilling rig and proposes to enter the well
bore with other equipment to complete and test this multi-lateral well. These
completion, stimulation and flow testing activities will be conducted over the
next two month period.

    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 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.
    CBM or natural gas from coal is technically defined as gas produced
naturally by coalification, and found within coal natural gas reservoirs
consisting predominately of methane, with smaller amounts of higher
hydrocarbons, water vapor, nitrogen, carbon dioxide, or other
non-hydrocarbons. The majority of gas is usually physically sorbed within the
microporosity and mesoporosity within the organic matrix. The Company's
management has extensive experience in the development of CBM projects, which
it is using to exploit the Company's land base and to add and sustain
significant value for its shareholders.

    ADVISORY

    Statements in this news release contain forward-looking information
including expectations of future production, procurement of drilling permits,
plans for and results of exploration and development activities and other
operational developments. The reader is cautioned that assumptions used in the
preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company. These
risks include, but are not limited to; the risks associated with the oil and
gas industry, commodity prices, and exchange rate changes. Industry related
risks include, but are not limited to; operational risks in exploration,
development and production, availability of skilled personnel and services,
failure to obtain industry partner, regulatory and other third party consents
and approvals, delays or changes in plans, risks associated with the
uncertainty of reserve estimates, health and safety risks and the uncertainty
of estimates and projections of reserves, production, costs and expenses. The
reader is cautioned not to place undue reliance on this forward-looking
information. The forward-looking statements contained herein are subject to
change. Except as required by applicable securities laws, the Company assumes
no obligation to update or revise any forward-looking statements should
circumstances or management's opinions or estimates change.

    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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