2009-08-11-2008-01-01

Farm-in to participate in drilling four shallow gas wells in east-central Alberta (Abee, Balloque, French, Thorhild leases) contributing 25% costs for 25% WI before payout, 15% after. When complete, will earn 2,560 gross acres.

Rolland Energy Inc., Montreal, (Toronto Venture: ROE) plans to enter a farm-in agreement with Severo Energy Corp. to participate in drilling four shallow gas wells in east-central Alberta. The drilling will be on four leases at Abee, Balloque, French and Thorhild and will target the Cetaceous and Devonian zones no greater than 900 meters deep. All wells are expected to be drilled by early February. Rolland will contribute 25% of capital costs for an undivided 25% working interest before payout subject to a pro rata share 15% gross overriding royalty. After payout, Rolland's working interest may be reduced to 15% at the time of the conversion of the gross overriding royalty. Two other partners will contribute 60% of capital costs for a 60% working interest and Severo will contribute 15%. When complete, Rolland will earn 2,560 gross acres.