Greentree Gas & Oil Ltd. Reports Operations and Corporate Update

Duncan Hamilton, President of Greentree Gas & Oil Ltd. (TSX VENTURE:GGO)
("Greentree" or the "Company") is pleased to report that the Company recently
placed four new oil producers on-stream in its 100%-owned Rodney Unit 3
property. To date, a total of ten new oil producers have been drilled and placed
on production of the 10-well infill drill program previously reported.
Production in Rodney Unit 3 has steadily increased to approximately 28 barrels
per day, since the addition of the new wells and is currently up approximately
366% over a production average of 6 barrels per day prior to completing the
10-well program.


The Company expects production to continue to rise in Rodney Unit 3 as the
water-flood becomes fully operational after a 10-week partial shutdown to
install the new pipelines and hydro to the new wells. The drilling program was
successful and proved that the upper portion of the oil reservoir unit remains
up to 100% oil saturated after more than 50 years of production in the pool.
This was determined from detailed fluid sampling and testing of the reservoir
interval in all ten new wells. With the geological data obtained from the
program, the Company will continue to exploit the upper reservoir interval
through the drilling of additional new infill wells and by lower-cost
re-completion of existing producers.


In this current challenging commodity pricing environment, the Company is
remaining focused on optimizing production in its existing oil properties and
reducing expenses in all operations.


Greentree Gas & Oil Ltd. is based in London, Ontario and is an explorer and
producer of oil and natural gas in southwestern Ontario.


Reader advisory:

Investors are cautioned that the preceding statements of the Company may include
certain estimates, assumptions and other forward-looking information. The actual
future performance, developments and/or results of the Company may differ
materially from any or all of the forward-looking statements, which include
current expectations, estimates and projections, in all or part attributable to
general economic conditions and other risks, uncertainties and circumstances
partly or totally outside the control of the Company, including natural gas/oil
prices, reserve estimates, drilling risks, future production of gas and oil,
rates of inflation, changes in future costs and expenses related to the
activities involving the exploration, development and production of gas and oil
hedging, financing availability and other risks related to financial activities.