Richards Oil & Gas Limited Announces the Resignation of David Thomas and the Appointment of Brad Turner as President & CEO

    CALGARY, March 29 /CNW/ - Dr Brian Moss, Chairman of the Board of
Richards Oil & Gas Limited (the "Corporation") (TSX Venture: RIX), announces
that David Thomas has tendered his resignation as President, Chief Executive
Officer and a Director of the Corporation, effective immediately. The Board of
Directors would like to thank Mr. Thomas for his important contribution to the
creation and development of the Corporation and wishes him much good luck and
best wishes in all his future endeavours. Mr. Thomas has agreed to be retained
by the Corporation to provide future consulting services.
    Effective immediately, Mr. Brad Turner has been appointed by the Board as
President and CEO of the Corporation, with a mandate to maximize the future
potential of the Corporation. Mr. Turner has over 20 years experience in
management, as an Officer and Director and has held senior executive positions
in the oil & gas sector and in other industries. Mr. Turner brings a proven
record of people and financial management, relationship development, deal
completion, corporate governance and finance and profit growth in both private
and public companies. Mr. Turner has consistently delivered superior results
through strong leadership skills and dedication to pursuing profitable
business opportunities and relationships.

    Richards Oil & Gas Limited is a Calgary-based exploration company with a
significant land base and industry-leading experience, involved in the
development of crude oil and natural gas, with an emphasis on the exploitation
of coal bed methane.

    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 and Chief Executive
Officer, Richards Oil & Gas Limited, Tel: (403) 265-8444,; Lonn Bate Chief Financial Officer, Richards Oil
& Gas Limited, Tel: (403) 265-8444,

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