2009-04-09-2009-04-07

Acquired 8% WI in Belmont Lake Field, MS.

Cheetah Oil & Gas, Vancouver, (OTCBB: COGL) has acquired working interest in a field in Mississippi from an undisclosed seller for $186,000. The deal metrics come to less than $18,000 per flowing barrel and less than $6 per proven barrel, according to Cheetah. Cheetah acquired an 8% working interest in Belmont Lake Field. The field has current production of 130 barrels of oil per day from two producing wells. Proved reserves are 400,000 barrels of oil. Included in the purchase is an option to drill wells on more than 132,000 acres of exploration lands that have extensive existing 2-D and 3-D seismic coverage. The company has a 40% working interest in the option on these exploration wells on these lands.