2009-08-10-2008-05-01-2008-06-01

Acquired interest in JV with Samson Oil and Gas Inc.

Stetson Oil & Gas Ltd., Calgary, (CDNX: SSN) has acquired the interest of Vast Exploration Inc., Calgary, (Toronto Venture: VST) in a joint venture arrangement (SamVast) with Samson Oil and Gas Inc., Perth, Australia, (Amex: SSN) in southeastern Saskatchewan for C$137,500. Stetson will be operator of the joint venture and will have a 50% working interest. The SamVast venture was formed in 2006 to jointly acquire and develop petroleum and gas rights with First Nations Bands in Saskatchewan by providing access to lands pursuant to the treaty land entitlement process. SamVast has signed agreements with four First Nations Bands, however, at present no land or mineral rights have been acquired. Stetson believes the SamVast venture will provide a competitive advantage in acquiring rights in southeastern Saskatchewan.