Ryland Oil Provides Update on Proposed Arrangement With Crescent Point Energy Corp.

Ryland Oil Corporation ("Ryland") (TSX VENTURE:RYD) is pleased to announce that
the Court of Queen's Bench of Alberta has granted an interim order with respect
to Ryland's proposed plan of arrangement ("Arrangement") with Crescent Point
Energy Corp. ("Crescent Point") pursuant to which Crescent Point proposes to
acquire all of the issued and outstanding shares of Ryland in exchange for
Crescent Point shares. 


An annual and special meeting (the "Meeting") of the holders of Ryland common
shares will be held in Calgary, Alberta on Thursday, August 19, 2010. At the
Meeting, Ryland shareholders will be asked to approve the proposed Arrangement
with Crescent Point, the details of which are set forth in Ryland's management
information circular and proxy statement dated July 22, 2010 ("Circular") which
has been mailed to shareholders and can be found under Ryland's profile on SEDAR
at www.sedar.com. 


Completion of the Arrangement is subject to the approval of 66 2/3% of the votes
cast by Ryland shareholders present in person or represented by proxy at the
Meeting. Completion of the Arrangement is also subject to the final approval of
the Court of Queen's Bench of Alberta (the "Court"). The application for a final
order of the Court has been scheduled for August 20, 2010. It is also a
condition of completion of the Arrangement that the Toronto Stock Exchange shall
have approved the listing of the Crescent Point Shares issuable to Ryland's
shareholders as consideration for the Ryland common shares. Assuming all
conditions are satisfied, it is expected that the Arrangement will be completed
on or about August 20, 2010.


Ryland's directors and senior management have unanimously approved the
Arrangement and have entered into support agreements under which they have
agreed to vote their Ryland common shares in favour of the Arrangement.


RYLAND OIL CORPORATION

Gerald J. Shields, President

Reader Advisory

Investors are cautioned that, except as disclosed in the Circular, any
information released or received with respect to the Arrangement may not be
accurate or complete and should not be relied upon. Trading in the securities of
Ryland should be considered highly speculative.


Certain statements contained in this press release constitute forward-looking
statements. All forward-looking statements are based on Ryland's beliefs and
assumptions based on information available at the time the assumption was made.
The use of any of the words "could", "should", "can", "anticipate", "expect",
"believe", "will", "may", "projected", "sustain", "continues", "strategy",
"potential", "projects", "grow", "take advantage", "estimate", "well positioned"
and similar expressions are intended to identify forward-looking statements. By
their nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
Ryland believes that the expectations reflected in those forward-looking
statements are reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements included in this
report should not be unduly relied upon. These statements speak only as of the
date of this press release or, if applicable, as of the date specified in those
documents specifically referenced herein.


In particular, this press release contains forward-looking statements pertaining
to the following: timing and completion of the Arrangement, the proposed
Meeting; receipt of all necessary Court, shareholder, regulatory and third party
approvals and the approval of the Toronto Stock Exchange.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors (many of which are beyond the control of Ryland)
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 could cause 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, the risks associated with
the oil and gas industry, commodity prices and exchange rate changes. Industry
related risks could include, but are not limited to: operational risks in
exploration, development and production; delays or changes in plans; competition
for and/or inability to retain drilling rigs and other services; competition
for, among other things, capital, acquisitions of reserves, undeveloped lands,
skilled personnel and supplies; risks associated to the uncertainty of reserve
estimates; governmental regulation of the oil and gas industry, including
environmental regulation; geological, technical, drilling and processing
problems and other difficulties in producing reserves; the uncertainty of
estimates and projections of production, costs and expenses; unanticipated
operating events or performance which can reduce production or cause production
to be shut in or delayed; incorrect assessments of the value of acquisitions;
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; access to capital; and other
factors. Readers are cautioned that this list of risk factors should not be
construed as exhaustive.


Readers are cautioned not to place undue reliance on this forward-looking
information, which is given as of the date it is expressed herein or otherwise
and Ryland undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, unless required to do so pursuant to applicable law.


This news release is not for dissemination in the United States or to any United
States news services. The shares of Crescent Point have not and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold in
the United States or to any U.S. person except in certain transactions exempt
from the registration requirements of the U.S. Securities Act and applicable
state securities laws.


The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved the contents of this press
release.


Issued and Outstanding: 201,673,418