Oyster Completes Its Drilling and Coring Program in Block 1101 Madagascar

Vancouver, BC / ACCESSWIRE / December 15, 2014 / Oyster Oil and Gas Ltd. ("Oyster" or the "Company") is pleased to announce that the drilling and coring operations in Block 1101 onshore Madagascar, in which Oyster holds a 10% working interest, are now complete.

As reported by the Operator, Afren PLC (LSE:AFR) ("Afren"), a total of four strategic locations on the Block, which measures some 11,200 Km2 (2.8 million acres), were successfully drilled and cored to an aggregate depth of 2,000m (6,500ft) with approximately 1,760m (5,720ft) of core samples recovered. Drilling at each of the locations successfully completed its respective technical objectives to assess specific aspects of the blocks petroleum systems.

Two of the core holes were drilled to depths of 650m (2,112ft) and 500m (1,625ft) adjacent to the 1902 coal borehole (Ankaramy-1) which had reportedly encountered "hydrocarbon shows". Cores recovered from both locations indicate the presence of hydrocarbons and potentially good reservoir quality over multiple zones.

Early indications provide further evidence of at least three different source rocks working across the Block, in Triassic, Jurassic and Cretaceous zones. Further detailed laboratory analysis of the cores will be undertaken during Q1 2015 to confirm the nature and extent of the hydrocarbons.


Michael Wood, President and CEO commented:

"These are encouraging results indicating the presence of hydrocarbons over several zones, reaffirming the oil potential of Block 1101. The joint venture has been working closely together to define and develop the exploration program for Block 1101, and we are looking forward to working with Afren on the drilling of a large exploration prospect which is planned for 2015."


About Oyster Oil and Gas Ltd.

Oyster is an oil and gas exploration company with a focus on Eastern Africa. Oyster holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and holds a working interest in an onshore block in Madagascar covering approximately 2.8 million acres.



For further information please contact:

Oyster Oil and Gas Ltd.
Martin Bajic, Chief Financial Officer
Tel: (604) 628-5621
Fax: (604) 662-7950



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