Loma Oil & Gas Completes Sale of Assets in the Wainwright Area of Alberta

Loma Oil & Gas Ltd. ("Loma" or the "Company") (TSX VENTURE:LOG.H) is pleased to
announce that it has completed the sale of its right, title and interest in
Wainwright Unit No. 18 (the "Wainwright Unit") and certain other lands, leases
and wells in the Wainwright area of Alberta (the "Non-Unit Assets") to an arm's
length Alberta private company (the "Purchaser"). 


The disposition was completed in accordance with the terms of a definitive
purchase and sale agreement entered into with the Purchaser. At closing, in
consideration for a cash payment of CDN$272,058 (exclusive of GST and subject to
adjustments), the Purchaser purchased Loma's 1.7798894% interest in and to the
Wainwright Unit and Loma's 1.701194% interest in and to the Non-Unit Assets.
Further details regarding the terms of the transaction are set out in the
definitive purchase and sale agreement which will be filed on Loma's profile on
SEDAR at www.sedar.com.


Cautionary Statements

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Loma Oil & Gas Ltd.
Ken Hughes
President, Chief Executive Officer and Director
[phone]