CIM Investment Management Limited interest in Stream Oil & Gas Ltd.

    TORONTO, Oct. 8 /CNW/ - CIM Investment Management Limited ("CIM")
announces that, as a result of previously completed transactions (described
below), it has  control over  18.3% of the outstanding common shares
("Shares") of Stream Oil & Gas Ltd. ("Stream") on a semi-diluted basis.
    CIM has control over the Shares held by each of CIM Special Situations
Fund Limited ("CSSF") and Key Special Situations Fund Limited ("KSSF")
(together, the "Controlled Entities").
    On August 16, 2007, CIM caused CSSF to purchase 4,456,000 shares and
2,228,000 warrants of L.G.R. Resources Ltd ("LGR") and KSSF to purchase
1,485,000 shares and 742,750 warrants of LGR. At the time, LGR had
36,609,325 shares outstanding so this combined holding represented a total of
16.2% of the outstanding shares of LGR on a non-diluted basis and 22.5% of the
outstanding shares of LGR on a semi-diluted basis (i.e. if the warrants of LGR
held by KSSF and CSSF were exercised).
    Upon the completion on April 4, 2008 of the transactions involving, among
other things, the acquisition by LGR by way of share exchange, of all the
issued and outstanding shares of Stream Oil & Gas Limited ("Old Stream") on
the basis of one post-consolidated common shares of LGR for every one share of
Old Stream, CSSF held 3,769,762 shares and 1,884,881 warrants of Stream and
KSSF held 1,256,504 shares and 628,315 warrants of Stream. As Stream had
38,680,341 shares outstanding, the combined holding of CSSF and KSSF
represented 13% of the outstanding shares of Stream on a non-diluted basis and
18.3% of the outstanding shares of Stream (the "Shares") on a semi-diluted
basis (i.e. if the warrants of Stream (the "Warrants") held by KSSF and CSSF
were exercised).
    On May 22, 2008, in furtherance of the liquidation of KSSF which was
initiated by the board of KSSF at the beginning of April 2008, 495,219 shares
and 247,635 warrants of New Stream were transferred by KSSF to CSSF.
    As of October 8, 2008, CIM has control or direction over an aggregate of
5,026,266 Shares (CSSF holds 4,264,981 Shares and KSSF holds 761,285 Shares)
and an aggregate of 2,513,196 Warrants (CSSF holds 2,132,516 Warrants and KSSF
holds 380,680 Warrants). As such, the Controlled Entities hold approximately
18.30% of the issued and outstanding Shares based on a total of
41,193,537 Shares issued and outstanding (as reported by Stream's most recent
disclosure on the SEDAR website as of October 8, 2008) and as calculated to
include the Shares that would be issued if all of the Warrants held by the
Controlled Entities were exercised.
    The Shares were acquired by the Controlled Entities for investment
    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.

    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 Funds on behalf of the CIM Dividend Income
Fund Limited, Platinum Global Dividend Fund Limited, Perinvest Dividend Equity
Fund Limited and the Bahraini Saudi Bank.

For further information:

For further information: please contact Ashley Retter of CIM Investment
Management Limited. Ashley Retter, CIM Investment Management Limited, 1 Regent
Street, London, SW1Y 4NS, Tel.: 0207 468 7600; CIM Special Situations Fund
Limited, P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin
Islands; Key Special Situations Fund Limited, 9 Columbus Centre, Road Town,
Tortola, British Virgin Islands

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