Jadela Farms Out Crossfield, Alberta Viking Rights

Jadela Oil Corp. ("Jadela" or the "Company") (TSX VENTURE:JOC) wishes to
announce that it has entered into a farmout agreement with an intermediate oil
and gas producer ("Farmee") to farmout Jadela's 35% working interest in the oil
and gas mineral rights to the Viking formation under Section 29- 30 -3W5M near
Crossfield, Alberta. The Farmee has until March 31, 2012 to spud and then must
proceed to drill and complete a horizontal Viking well of approximately 1,200
meters (4,000 feet). The Farmee has also agreed to tie-in gas production to the
Alta Gas processing facilities located at Section 27-31-4W5M. On May 9, 2011,
Jadela had previously announced that it had farmed out its rights to this play
however, the farmout agreement referenced in the May 9, 2011 press release was
subsequently terminated. Jadela produced natural gas from the Ellerslie
formation under the section and its interest in the Viking formation is held by
production. 


About Jadela

Jadela is a junior oil and gas exploration company. For additional details,
please visit Jadela's website at www.jadelaoil.com


Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, statements with respect to the timing, drilling
and completion of the horizontal well and the timing related to the tie-in of
production. Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as those set out
in the forward-looking information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made and are founded on the basis of expectations
and assumptions made by the Company. Such forward-looking information is subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those anticipated in the
forward-looking information. Some of the risks and other factors that could
cause the results to differ materially from those expressed in the
forward-looking information include, but are not limited to: general economic
conditions in Canada, the United States and globally; industry conditions,
including fluctuations in the prices of oil and natural gas; governmental
regulation of the oil and gas industry, including environmental regulation;
unanticipated operating events or performance which can reduce production or
cause production to be shut in or delayed; failure to obtain industry partner
and other third party consents and approvals, if and when required; competition
for and/or inability to retain drilling rigs and other services; the
availability of capital on acceptable terms; the need to obtain required
approvals from regulatory authorities; stock market volatility; volatility in
market prices for oil and natural gas; liabilities inherent in oil and natural
gas operations; competition for, among other things, capital, acquisitions of
reserves, undeveloped lands, skilled personnel and supplies; incorrect
assessments of the value of acquisitions; geological, technical, drilling,
processing and transportation problems; changes in tax laws and incentive
programs relating to the oil and gas industry; failure to realize the
anticipated benefits of acquisitions and dispositions; and other factors.
Readers are cautioned that this list of risk factors should not be construed as
exhaustive. 


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.