Cygnus Oil and Gas Corporation to Present at the Eleventh Annual Oil and Gas Conference in Denver, Colorado

Cygnus Oil and Gas Corporation (OTCBB:CYNS) is scheduled
to present at the Eleventh Annual Oil and Gas Conference in Denver,
Colorado, on Thursday, August 17, 2006. Roger Abel, Chief Executive
Officer and President of Cygnus Oil and Gas, will present at 4:25 p.m.
EDT and will also host an investor breakfast table at 7:00 a.m. on
Wednesday, August 16 at the Westin Hotel located in downtown Denver.
Cygnus' presentation will focus on the company's resource plays in the
Caney and Fayetteville Shales. A live audio Web cast of the
presentation may be accessed at the following link:
http://www.investorcalendar.com/CEPage.asp?ID=107623. The presentation
will be available at the company's Web site, www.cygnusoilandgas.com,
beginning an hour after the presentation.

   ABOUT CYGNUS OIL AND GAS

   Headquartered in Houston, Texas, Cygnus Oil and Gas Corporation is
an oil and gas exploration and production company. Primarily a
resource player, its key assets consist of shale acreage in Woodruff
County, Arkansas and McIntosh County, Oklahoma, and it also owns a
variety of producing and non-producing oil and gas assets in Texas,
Alabama, Louisiana, Mississippi, and New Zealand. Since August 2005,
the Company has made significant changes in its management, Board of
Directors and the nature of oil and gas assets it acquires to better
equip itself for future company growth.

   FORWARD-LOOKING STATEMENTS

   This news release contains forward-looking statements, including,
in particular, statements about Cygnus's plans and intentions. These
have been based on the Company's current assumptions, expectations and
projections about future events. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, the Company can give no assurance that the expectations
will prove to be correct.