Stetson Provides Corporate Governance Update

Stetson Oil & Gas Ltd. (TSX VENTURE:SSN) has amended its by-laws to adopt a new
policy that requires advance notice to Stetson for nominations of directors
other than by management, through a requisition for a meeting or by way of a
shareholder proposal. 


Among other things, the policy fixes a deadline by which holders of record of
common shares of the Company must submit director nominations to the company
prior to any annual or special meeting of shareholders and sets forth the
information that a shareholder must include in the notice to the company for the
notice to be in proper written form.


In the case of an annual meeting of shareholders, notice to the company must be
made not less than 30 nor more than 65 days prior to the date of the annual
meeting, provided that in the event that the annual meeting is to be held on a
date that is less than 50 days after the date on which the first public
announcement of the date of the annual meeting was made, notice may be made not
later than the close of business on the tenth day following such public
announcement.


In the case of a special meeting of shareholders (which is not also an annual
meeting), notice to the company must be made not later than the close of
business on the 15th day following the day on which the first public
announcement of the date of the special meeting was made.


The new policy is intended to: (i) facilitate an orderly and efficient annual
general or special meeting process; (ii) ensure that all shareholders receive
adequate notice of the director nominations and sufficient information regarding
all director nominees; and (iii) allow shareholders to register an informed vote
after having been afforded reasonable time for appropriate deliberation. 


The by-law amendment and policy is effective immediately and will be placed
before Stetson's shareholders for approval at Stetson's annual general and
special meeting of shareholders scheduled to be held on June 13, 2013. 


The full text of the policy is available under Stetson's profile at www.sedar.com. 

Stetson is a junior oil and gas company with exploration assets in North Dakota,
USA.


Regulatory Statements 

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, without limitation, statements regarding the advance notice policy.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of Stetson, as the case may be, to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to: general business, economic, competitive,
geopolitical and social uncertainties; the actual results of current exploration
activities; risks associated with operation in foreign jurisdictions; ability to
successfully integrate acquired properties; foreign operations risks; and other
risks inherent in the oil and gas industry. Although Stetson has attempted to
identify important factors that could cause actual results to differ materially
from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. Stetson does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Stetson Oil & Gas Ltd.
Ahmed Said
Chairman & CEO
[phone]
[e-mail]