Cougar Oil and Gas Canada, Inc. Operations Update - MarketWatch (press release)

CALGARY, ALBERTA, Sep 19, 2011 (MARKETWIRE via COMTEX) -- Cougar Oil and Gas Canada, Inc. ("Cougar" "the Company") is pleased to announce that it has signed a farmout agreement to fund the Trout Drilling Program.

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Under the terms of the Agreement, Zentrum Energie Trust AG ("Zentrum") will pay 100% of the costs of the first 2 well drilling program of $3.5 million Cdn to earn 90% of the net revenue before payout and 50% of the working interest in those wells after payout. Upon completion of the 2 well programs, Zentrum will earn the rights to participate in subsequent wells in the 15 well programs on similar terms. With this funding commitment the licensing of 4 wells will be finalized, however, with the very busy drilling season currently getting underway, it is not expected that equipment will be available until Q1/Q2 2012.

Cougar Oil and Gas Canada, Inc. Operations Update - MarketWatch (press release)