Base announces results of its annual and special meeting of shareholders, appointment of VP, Engineering and Corporate Update

CALGARY, Sept. 14, 2011 /CNW/ -- 
CALGARY, Sept. 14, 2011 /CNW/ - Base Oil & Gas Ltd. (TSXV: BOG) ("Base"
 or the "Company"), is pleased to announce the results of its annual and
 special meeting of shareholders held on Tuesday, September 13, 2011 in
 Calgary.


The following directors were elected to the Board of Directors until the
 Company's next annual meeting: Dennis Feuchuk (Chairman), Richard
 Alexander, Bruce Hammond, Don Van Tetering and Richard Thompson. The
 shareholders also approved the appointment of BDO Canada LLP as
 auditors of the Company, amendments to the Company's share option plan
 and the name change of the Company to "Marquee Petroleum Ltd."


Appointment of Vice President, Engineering


Base is also pleased to announce the appointment of Mr. Trevor Rath,
 P.Eng to the position of Vice President Engineering effective
 immediately.


Mr. Rath has over 20 years of oil and gas experience, in roles of
 increasing responsibility, including senior management. Most recently
 Mr. Rath was a Vice President of a private junior oil and gas producer.
 Mr. Rath brings significant experience in the key operating areas of
 southern and eastern Alberta to Base.


Mr. Rath has provided technical support to Base Oil and Gas since the
 recapitalization and reorganization of management in June, 2011.


Corporate Update


Plans are underway for Base to drill three operated horizontal wells on
 light oil plays in the 4(th) quarter of 2011. The first well is scheduled to be spud in early
 November at Coutts, targeting the Sunburst formation. The remaining
 wells will be drilled on the East Central Alberta property; the first
 on a Viking oil prospect and the other targeting lower Mannville oil.


About Base Oil & Gas Ltd.


Base is a Calgary-based emerging junior oil and gas company currently
 focused on high netback oil production in southern and east central
 Alberta.


BOEs


Boes may be misleading, particularly if used in isolation. A boe
 conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency
 conversion method primarily applicable at the burner tip and does not
 represent a value equivalency at the wellhead.


FORWARD-LOOKING STATEMENTS


Certain information included in this press release constitutes
 forward-looking information under applicable securities legislation.
 Such forward-looking information is provided for the purpose of
 providing information about management's current expectations and plans
 relating to the future. Readers are cautioned that reliance on such
 information may not be appropriate for other purposes, such as making
 investment decisions. Forward-looking information typically contains
 statements with words such as "anticipate", "believe", "expect",
 "plan", "intend", "estimate", "propose", "project" or similar words
 suggesting future outcomes or statements regarding an outlook.
 Forward-looking information in this press release may include, but is
 not limited to, information with respect to: expected timing and
 results of drilling; operational decisions and the timing thereof;
 development and exploration plans and the likelihood of success and the
 timing thereof. Forward-looking information is based on a number of
 factors and assumptions which have been used to develop such
 information but which may prove to be incorrect. Although the Company
 believes that the expectations reflected in such forward-looking
 information is reasonable, undue reliance should not be placed on
 forward-looking information because the Company can give no assurance
 that such expectations will prove to be correct. In addition to other
 factors and assumptions which may be identified in this press release,
 assumptions have been made regarding and are implicit in, among other
 things: field production rates and decline rates; the ability of the
 Company to secure adequate product transportation; the impact of
 increasing competition in or near the Company's plays; the timely
 receipt of any required regulatory approvals; the ability of the
 Company to obtain qualified staff, equipment and services in a timely
 and cost efficient manner to develop its business; the Company's
 ability to operate the properties in a safe, efficient and effective
 manner; the ability of the Company to obtain financing on acceptable
 terms; the ability to replace and expand oil and natural gas reserves
 through acquisition, development of exploration; the timing and costs
 of pipeline, storage and facility construction and expansion; future
 oil and natural gas prices; currency, exchange and interest rates; the
 regulatory framework regarding royalties, taxes and environmental
 matters; and the ability of the Company to successfully market its oil
 and natural gas products. Readers are cautioned that the foregoing list
 is not exhaustive of all factors and assumptions which have been used.


Statements relating to "reserves" are by their nature forward-looking
 statements, as they involve the implied assessment, based on certain
 estimates and assumptions that the reserves described can be profitably
 produced in the future. The recovery and reserve estimates provided
 herein are estimates only and there is no guarantee that the estimated
 reserves will be recovered. As a consequence, actual results may differ
 materially from those anticipated in the forward looking statements


Forward-looking information is based on current expectations, estimates
 and projections that involve a number of risks and uncertainties which
 could cause actual results to differ materially from those anticipated
 by the Company and described in the forward-looking information. The
 material risk factors affecting the Company and its business are
 contained in the Company's annual information form for the year ended
 December 31, 2010 dated July 29, 2011 and Management's Discussion and Analysis which are available under the
 Company's issuer profile on SEDAR at www.sedar.com.


The forward-looking information contained in this press release is made
 as of the date hereof and the Company 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
 by applicable securities laws. The forward looking information
 contained in this press release is expressly qualified by this
 cautionary statement.


Neither the TSX Venture Exchange nor its Regulation Services Provider
 (as that term is defined in the policies of the TSX Venture Exchange)
 accepts responsibility for the adequacy or accuracy of this release.






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p  /p p align="left" Base Oil & Gas Ltd. /p table border="0" tr td Richard Thompson     /td td Roy Evans, C.A. /td /tr tr td President & CEO      /td td Vice President, Finance & CFO /td /tr tr td [phone]      /td td [phone] /td /tr tr td a href="mailto:[e-mail]"[e-mail]/a    /td td a href="mailto:[e-mail]"[e-mail]/a /td /tr /table p align="left" or visit the Company's website at a href="http://www.baseoilandgas.ca"www.baseoilandgas.ca/a. /p p   /p 

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