I invested in this way before it was delinguent. Luckily sold before the revocation.

Current stock holders should get their money back

lol. and who would pay that? and remember, it was you who decided to invest in delinquent garbage.

COUGF revoked:

http://www.sec.gov/litigation/admin/2014/34-73567.pdf

Actually smells like a suspended pile.

The SEC should contact the current shareholders too. They seem to only care about would-be traders, but they do not consider the current stock holders. Current stock holders should get their money back based on the previous day close before the halt.Enough said!

The SEC always contacts delinquent filers and only invokes a suspension when the company either doesn't reply or comply.

The suspension is entirely the company's fault.

Thorough DD should have revealed that the company was severely delinquent, and I strongly advise all readers to NOT BUY delinquent filer stocks.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104935976

So they have it trade like everything is still OK. Why not halt it near Dec 31, 2010? Why wait until more traders buy shares?

COUGF hadn't filed any Financials to the SEC since 2010. This is entirely the company's dereliction of filing obligations. It is not an elective option for SEC Filers to not file Fins.

Excerpt:

3. Cougar Oil & Gas Canada Inc. (CIK No. 1427645) is an Alberta corporation located in Calgary, Alberta, Canada with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). Cougar Oil & Gas Canada is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 20-F for the fiscal year ended December 31, 2010, which reported a net loss of $1,127,354 (Canadian) for the prior five months. As of July 29, 2014, the company’s stock (symbol “COUGF”) was quoted on OTC Link, had eight market makers, and was eligible for the “piggyback” exception of Exchange Act Rule
15c2-11(f)(3).

"As of July 29, 2014, the company’s stock (symbol “COUGF”) was quoted on OTC Link, had eight market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3)."
This wreaks up chitland. It's like ...Now that we have buying activity, let's halt the stock.

COUGF SEC Suspension:

http://www.sec.gov/litigation/suspensions/2014/34-72769.pdf

Order:

http://www.sec.gov/litigation/suspensions/2014/34-72769-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2014/34-72770.pdf

COUGF is smells like a winner

Does anybody follow this stock anymore???

Thanks.

Had a look through the documents, and it boils down to this:

"Subsequent to the Initial Filing Date, Cougar Oil and Gas encountered multiple setbacks which prevented Cougar from being able to continue operating under the CCAA. These setbacks are described in two material adverse change reports prepared by the Monitor, the second report of the Monitor dated April 12, 2012 and the fifth report of the Monitor dated May 10, 2012"

Looking at those adverse material change reports, they consist of two events... which are primarily useful mostly if not only as an object lesson in how badly bureaucracy can screw things up...

The first material adverse event was a direct result of the financial difficulties that the company was in, which result had the Canadian regulators force them to shut down their production in 8 wells pending posting of a larger bond. They eventually posted the required $700,000 bond to resume production, but, when they "turned the wells back on" only half of them proved able to produce. Oil wells are not light switches... you can't just turn them off and back on. So, the shut in destroyed the productive capacity of 4 of 8 wells... perhaps permanently...

The second material adverse event, obviously derivative of the first, was that the lenders cut off their DIP financing because the expected cash flow from producing wells didn't materialize.

Bottom line:

1. They're no longer "operating under court protection" but are now bankrupt and being liquidated.

2. The receiver (rather magically, in my opinion) estimates that the probable value at sale of the COUGE properties happens to exactly match the secured and unsecured creditor obligations.

3. Stick a fork in it.

Check my post over at couge.ob message board to see the court ordered document dated may 23, 2012. I found the court ordered document by goggling up cougar oil and gas and it appears under the heading of Ernst and Young Inc. restructuring information. I have not found anywhere where Cougar has issued a press release on this.

Didn't see anything new on SEDAR today...

I'm non all that familiar with how best to follow issues that are under creditor protection in Canada... or, how to see what the Alberta Courts are doing.

I note the company website isn't there any more this afternoon.

So, maybe there's something more useful out there than just waiting for the company to follow through with promises to keep investors informed... but, if there is, I don't what it is ?

I noticed today there is no message board available for kdkn.pk couge.ob or tamo.ob May 23 has come and gone and old Bill still has not informed all his stockholders. Hope the users at yahoo message board find this message board at investorhub

"The Company anticipates presenting a restructuring Plan to its creditors in these CCAA proceedings and will issue a further press release on or before May 23, 2012 to provide an update regarding the status of the Plan and the CCAA proceedings generally."

Dated from April 10/11 in their last PR/filing.

Anyone got a functional calendar ?

Seems they could use one...

Off the daily list:

05/02/2012 13:18:41|S1|COUGE|COUGF|Cougar Oil & Gas Canada Inc. Common Shares (Canada)|Cougar Oil & Gas Canada Inc. Common Shares (Canada)|05/04/2012|Delinquent **|||U|Y|100|Y

http://www.otcbb.com

How's it lookin now???? .055

~ $COUGF ~ Possibly going long scan results (Daily and Weekly) for for the week of March 1st 2012 - Daily and Weekly views.

Chart results for you to ponder with me.. These are technical scans only, Click next or previous at the top of the page to see my others. Twitter: @MACDgyver ---> COUGF <---
Keyword: MACDscan ----> http://tinyurl.com/MACDscan

Uh oh, latest news doesn't look so good.

http://www.marketwatch.com/story/cougar-oil-and-gas-canada-enters-into-creditor-protection-following-failure-of-purchaser-to-complete-an-asset-acquisition-2012-02-03-172520

Cougar Oil and Gas Canada Enters Into Creditor Protection Following Failure of Purchaser to Complete an Asset Acquisition
The Energy Resources and Conservation Board Shutting in Production for the Resulting Insufficient LMR Deposit Requirements

CALGARY, ALBERTA, Feb 03, 2012 (MARKETWIRE via COMTEX) -- Cougar Oil and Gas Canada, Inc. ("the Company") COUGF -4.44% has requested and obtained an Order from the Alberta Court of Queen's Bench (the "Court") providing creditor protection under the Companies' Creditors Arrangement Act (Canada) ("CCAA"). While under CCAA protection, the Company will continue with its day to day operations.

On November 15, 2011, the potential purchaser under a Binding Letter of Intent to acquire some of the Company's non-core assets defaulted on its agreements. The sale of these assets would have removed a requirement to increase the ERCB LMR deposit ("long term well abandonment liability deposit"). Because the potential purchaser asked for multiple extensions and placed a partial deposit, the Company agreed to several extensions of the closing. However, the potential purchaser did not meet the closing conditions or provide required pre-closing information to the ERCB. As a result the ERCB prohibited the transfer of the wells and the potential purchaser defaulted on the purchase of the Company's none core assets. The delays in the acquisition process then resulted in the ERCB putting Cougar on notice to increase its LMR deposit.

To date, because the Company was not able to fund the $630,000 LMR deposit in a manner satisfactory to the ERCB, the ERCB has ordered the wells and facilities of the Company shut in until the LMR deposit is made and the ERCB requirements are met. The Company immediately appealed the order and is reviewing its options in seeking damages due to the default of the potential purchaser under the terms of the Binding Letter of Intent. The Company operations were shut in starting on January 23, 2012. The Company continues to seek sufficient financing to get the wells turned back on.

Additionally, as a result of the default of the potential purchaser and the resultant ERCB action, the Company then had only revenue from it's non operated gas properties which was insufficient to continue day to day operations and pay existing creditors.

Over the last several months, the Company has had its operations reduced, its expenses increased and its net income reduced as a result of the Rainbow Pipeline break, the wild fires of the Slave Lake area and a short term drop in commodity prices. Because of the capital conditions due to the last recession and the ongoing problems in the European capital markets, the availability of funding for operations and capital expenditures has become more restricted and expensive.

The Board of Directors of Cougar has therefore decided to seek CCAA protection after considering its currently available alternatives. CCAA protection stays creditors and others from enforcing rights against the Company and affords the Company the opportunity to restructure its financial affairs. The Court has granted CCAA protection until March 2 , 2012, to be further extended as required and approved by the Court.

"We made the difficult decision to seek creditor protection because we believe this step to be in the best interest of all our stakeholders," said William Tighe, Chief Executive Officer. "We have been actively seeking options to manage our liquidity and to raise the capital we need to proceed with developing our assets To protect those assets and to find a solution that will enable them to be developed, we are seeking options to restructure our affairs."

While under CCAA protection, the Board of Directors maintains its usual role and management remains responsible for the day to day operations, under the supervision of a Court-appointed monitor, Ernst and Young. The monitor will be responsible for reviewing ongoing operations, assisting with the development and implementation of a Plan of Arrangement ("Plan") that is established by management, liaising with creditors and other stakeholders and reporting to the Court. The Board of Directors and management will be primarily responsible for determining whether a Plan for restructuring the Company's affairs is feasible. Affected stakeholders will have an opportunity to vote on the Plan. Before the Plan is implemented it must be approved by the requisite number and value of affected stakeholders contemplated by law and approved by the Court.

CCAA protection enables the Company to continue with its day to day operations until the CCAA status changes. The implications of this process for shareholders will not be known until the end of the restructuring process. If the secured stakeholders do not approve a Plan in the manner contemplated by law, the Company will likely be placed into receivership or bankruptcy. If by March 3, 2012, the Company has not filed a Plan or obtained an extension of the CCAA protection, creditors and others will no longer be stayed from enforcing their rights. The Company will issue a further press release on or before March 3, 2012 to provide an update.

"We remain confident that our Trout oil assets and specifically the new drilling program can be developed into long term commercial facilities," Mr. Tighe concluded. "The timing of the pipeline break and the long delay before the ERCB would permit restoration of service, the well drilled in the spring of 2011 which had inclusive results and still needs $200,000 to properly test it, the overall state of the world economy especially in Europe which had provided the Company with much of it's financing since inception, a short downturn in commodity prices in the middle of the critical pipeline break, the lack of available financing for junior companies like the Company, has impacted our ability to access capital or to identify strategic alternatives to enable us to proceed. We hope that through this process we will be able to arrive at a satisfactory solution for all our stakeholders including our shareholders."

Forward-Looking Statements

This news release includes certain statements that may be deemed to be "forward-looking statements". All statements, other than statements of historical fads, included in this news release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other faders that could cause actual events. Results may differ materially from those anticipated in the forward-looking statements which include but are not limited to the ability to raise additional capital, risks associated with the Company's ability to implement its business plan, its ability to successfully submit a timely plan to its creditors and the risk under the CCAA and to resolve its operational, legal and financial difficulties, risks inherent in the oil sands industry, regulatory and economic risks land tenure risks and those factors listed under the caption "Risk Faders" in the Company's Form 20-F, as amended, filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law.

Contacts:
Cougar Oil and Gas Canada Inc.
Investor Relations
+1(403) 513-2664
info@cougarenergyinc.com

www.cougarenergyinc.com
www.cougarenergyoilandgascanadainc.com

SOURCE: Cougar Oil and Gas Canada Inc.

mailto:info@cougarenergyinc.com

http://www.cougarenergyinc.com
http://www.cougarenergyoilandgascanadainc.com

Another PR -
http://pr-usa.net/index.php?option=com_content&task=view&id=990569&Itemid=29

TAMM Oil and Gas Corp. ("TAMM") (OTCBB:TAMO) is pleased to provide an update to the Manning Heavy Oil Project.

TAMM has reached agreements with a private UK Corporation with Major Oilsands Lease holdings in the prospect area and Cougar Oil and Gas Canada Inc. ("Cougar")(COUGF:OTCBB). The private corporation holds 61 sections of oil sands lease adjacent to the TAMM lease holdings. TAMM and Cougar have terminated their previously announced farmin to negotiate a new agreement with the private Corporation. The private corporation has signed a multi-phase farm-in agreement with TAMM to define and develop TAMM's 47 section Manning area heavy oil prospect in parallel with the development of the private corporations 61 sections of land in the Manning area.

Cougar will become the "Operator" of the project, be compensated on commercial terms for the work done, and earn 5% working interest on the combined project lands of 108 sections from TAMM and the private corporation after one year.

Entering into the farm-in agreement with the private corporation allows TAMM to utilize the results to the maximum ability without having to raise capital through debt or equity at this time. In addition, with the development on the adjacent properties, and a common operator in Cougar, synergies are expected as well as benefits due to size, shared information, momentum, economies of scale as the projects move through the various stages to the expected developments.

The first phase of the farm-in consists of the private corporation performing a $2.5million work program to earn a 30% working interest in the TAMM heavy oil prospect. Subsequent year programs of $6.5 million dollars will earn an additional 20% working interest.

This work program will be done at no cost and no risk to TAMM and will dramatically increase the value of the Manning heavy oil project. The work program will focus on defining the Elkton and Debolt heavy oil prospects and will consist of the following operations;

Multi-well coring program: The target formations, Elkton and Debolt, have been mapped in the Manning area as a result of the numerous deeper conventional wells drilling through the heavy oil prospects. With some areas of the TAMM lands having over 30m of potential oil pay, the core data will provide the foundation of the future development research. The coring program will consist of three to five core holes being drilled to gather Elkton and Debolt samples. The targets for the cores will be designed from a seismic program review.

On June 8, 2011 TAMM announced an updated Prospective Resource report and 4 section feasibility study had been completed by Chapman Petroleum Engineering Ltd. (Chapman). Please download and review the entire Chapman report from the TAMM website (www.tammoilandgas.com). The Chapman report updated the Petroleum Initially In Place ("PIIP") with 2.73 billion barrels PIIP - to reflect the revised guidelines under NI - 51-101 section 5.9 for the 47 sections that TAMM holds in the Manning Heavy Oil Area. The report also evaluated a typical 4 section block for a thermal development to evaluate the feasibility of an economic development of the overall properties. The following is an excerpt from the introduction letter and the project synopsis prepared by Chapman;

"An economic analysis has been performed for the company's interest position. Our analysis and the values presented in this report reflect the typical exploitation of resources on only an arbitrary four section block, which is a small portion of the company's total land holdings covering the heavy oil accumulation."

"Based on our analysis, after consideration of risk, we have concluded that the potential of this project is of sufficient merit to justify the work program being proposed and we therefore recommend and support the company's participation."

"The economic and risk analysis justifying the participation in this project is presented in the Discussion of the report and a summary of the "before and after risk" values for the typical four section development block evaluated herein is presented below:

"Company Net Value, Thousands of Dollars"

Before Risk After Risk

"Undiscounted 2,350,887 523,000"

"Discounted @ 10%/year 632,903 130,000"

"An equivalent of 2011 price of $69.47 per STB (barrel) of heavy oil was utilized for this resource evaluation, reflecting a -$5 per STB quality adjustment to posted Alberta heavy oil."

The feasibility report estimate, fully risked, discounted 10% of $130,000,000 for 4 sections divided by 92.6 million fully diluted shares results in $1.40 for that 4 sections.

The private corporation has a related party relationship to TAMM due to family members serving on the board of directors of each company and a common director was added to both Board of Directors.

Additional updates will be provided as information becomes available.

Further information on TAMM and the TAMM projects can be found on the website at: http://www.tammoilandgas.com.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS AND RISKS

Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as "believes", "expect, anticipate", are intended to identify forward-looking statements. Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether we will have sufficient financial resources to continue to meet our operational goals and future plans; and (b) the Report and its findings although completed in compliance with Canadian NI- 51-101 standards, were not necessarily prepared in conformity with SEC disclosure principals or guidelines. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the Securities and Exchange Commission that contain important information regarding the Company's financial results, its future plans, and their limitations, and the risks involved with the Company's operations. The Company disclaims any responsibility to update forward-looking statements made herein.

CAUTIONARY NOTE TO UNITED STATES INVESTORS

The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms, such as prospective resource or Original Oil in Place (OOIP) or Petroleum Initially In Place (PIIP) , that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site: http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm

Bottom line: This is a stock ready to explode. It's unfortunate this stock was discovered by the Bull$#it pump-&-dumps online several months ago. But rest assured, the "dump" has ended and THIS STOCK WILL RETURN TO "EQUILIBRIUM" value. And then... It will only go up from there. This is too solid of a company, and the charts speak for themselves! Buy while it's cheap!!!

I would have to agree with you there.

I haven't been following this company very long; however, it appears to be a good sign that the company can arrange financing agreements for projects and move forward.

Just read this myself. Any thoughts?

Latest PR -

http://www.smartmoney.com/news/pr/?story=PR-20110919-000053&cid=951

CALGARY, ALBERTA -- (MARKETWIRE) -- 09/19/11 --

Cougar Oil and Gas Canada, Inc. ("Cougar" "the Company") (OTCBB:COUGF) is pleased to announce that it has signed a farmout agreement to fund the Trout Drilling Program.

Under the terms of the Agreement, Zentrum Energie Trust AG ("Zentrum") will pay 100% of the costs of the first 2 well drilling program of $3.5 million Cdn to earn 90% of the net revenue before payout and 50% of the working interest in those wells after payout. Upon completion of the 2 well programs, Zentrum will earn the rights to participate in subsequent wells in the 15 well programs on similar terms.

With this funding commitment the licensing of 4 wells will be finalized, however, with the very busy drilling season currently getting underway, it is not expected that equipment will be available until Q1/Q2 2012.

Once drilled and placed on production, pay out of each well is currently projected to be approximately 130 to 180 days if average production rates for the area are achieved. Cougar will retain operatorship of the properties and will be a 50/50 working interest partner post payout on each well drilled in this agreement. Cougar has an 85% working interest average on the balance of the properties.

Zentrum has agreed to accept secured convertible debentures of Cougar as payment of 40% of the revenue for the first two wells up to a cap of 3 million dollars. Proceeds of those debentures shall be used for working capital by Cougar.

In addition, Zentrum has also agreed to fund a 3 well work over program in the amount of $65,000 Cdn to be initiated as soon as equipment is available. This will add to the existing production level and provide incremental revenue that will be used to repay Zentrum. Under the terms of the funding agreement, $65,000 of the initial net revenue will be repaid to Zentrum and $65,000 repaid as convertible debentures as a cost of financing. Post payout, Cougar will retain 100% of the revenue.

William Tighe, CEO of Cougar provided "We are pleased to start moving forward with our goals and with this drilling program which has the potential to add substantial reserves and value to Cougar without a dilutive common share issuance.

It was a difficult summer with little news to announce until recently when the Rainbow pipeline was actually restarted, and we could confidently make plans - the start-up was delayed several times. The very wet summer in the area, the wild fires, and the pipeline break effectively stalled or slowed down all exploration programs and operations for most of the operators in the area resulting in a very large backlog in drilling programs with services booked long into next year.

Now that operations have been returned to pre-pipeline break levels, we are moving forward. Cougar will be working with service suppliers to advance this drilling program as equipment becomes available.

About Cougar Oil and Gas Canada Inc.:

Cougar Oil and Gas Canada Inc. (OTCBB:COUGF) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are Lucy in the Horn River Basin in northeast British Columbia and First Nation Joint Ventures and our Trout Core Projects located in north central Alberta.

Additional information is at http://www.cougarenergyinc.com.

This information on this press release and associated documents contains the terms "estimated reserves based on "forecast pricing". The Company advises investors that although these terms are recognized and required by Canadian securities regulations (under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities), the US Securities and Exchange Commission does not recognize these terms.. In addition, "estimated reserve value" has an amount of uncertainty as to their existence, and economic and legal feasibility. CAUTIONARY NOTE TO U.S. INVESTORS - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions and constant pricing. We use certain terms on this press release, such as economic forecast based on escalating pricing, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20F. You can also obtain this form from the SEC by calling 1-800-SEC-0330.

Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.

Contacts: Cougar Oil and Gas Canada Inc. Investor Relations: +1(403) 513-2664 info@cougarenergyinc.com www.cougarenergyinc.com www.cougarenergyoilandgascanadainc.co

Dont' know how I missed this one.

Not much in the way of PR's lately. Have any updates here?

COUGF Video Chart 7/11/11

http://www.videocharts.qualitystocks.net

Cougar Oil and Gas Canada Inc. is not a current client of QualityStocks

Any updates about the acquisitions lately?

Think this will bump the stock up?

Cougar Oil and Gas Canada Inc. Provides Manning Heavy Oil Project Update

Jun 9, 2011 1:05:00 AM
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CALGARY, ALBERTA -- (MARKET WIRE) -- 06/09/11 -- Cougar Oil and Gas Canada Inc. ("Cougar" or the "Corporation") (OTCBB: COUGF) is very pleased to provide a project update for the Corporation's two Manning Area heavy oil farm-ins including an updated Prospective Resource report and Feasibility Study.

On February 14, 2011 Cougar successfully completed negotiations on a two section heavy oil farm-in with a private company in the Manning area of north western Alberta. The farm-in includes a commitment for Cougar to drill one well in order to earn a 100% working interest. Upon completion of the work commitments the private company retains a 3% royalty interest on the two sections.

On March 17, 2011 Cougar announced a heavy oil farm-in agreement with TAMM Oil and Gas Corporation (TAMM). The Farm-in agreement has two work commitment earning phases whereby Cougar becomes the operator for the project and can earn up to a 50% working interest in the TAMM heavy oil properties upon completion of the work commitments. The Corporation has been assisting TAMM during the last couple of months in by providing information for an independent third party report to evaluate the Manning farm-in properties.

On May 31, 2011 TAMM Oil and Gas Corp filed the updated Prospective Resource report which also included a feasibility study for a 4 section thermal production project in the Manning area. The report was prepared by Chapman Petroleum Engineering Ltd. and is available on the TAMM websites with a direct link from the Cougar web site. A summary of the Petroleum Initially in Place and the company Net Value is presented below. Cougar technical personnel assisted with the final review and vetting of the report.

Petroleum Initially In Place (PIIP)

The following is an excerpt from the Evaluation of Prospective Resources Report which has an effective date of January 1, 2011. The values are presented on a net 100% working interest.

Total heavy oil in place was determined on the Company lands for the two most significant potential carbonate reservoir zones in the area, the Elkton and Lower Debolt formations and amounted to over 2,700 million barrels of oil. This was based on volumetric calculations using the detailed net oil reservoir mapping of both zones (Figures 2 and 3). Planimetering these maps results in an average heavy oil reservoir thickness of 51 feet in the Elkton and 32 feet in the Lower Debolt.

Other reservoir parameters were determined from petrophysical analysis of a typical well, 6-34-90-24W5M (Figure 4). This well is located on the TAMM property and was drilled in 1988 to below the base of the Elkton Formation and logged with a complete modern logging suite before being abandoned. A log analysis of the heavy oil saturated Debolt to Elkton interval clearly identified two major heavy oil reservoirs, the Elkton and Lower Debolt formations. Heavy oil is also present in the upper Debolt M2, M3 and M4 units but these units have appreciably less heavy oil reservoir thickness. Porosity for both formations was very close with an average porosity of 18% for the Elkton Formation and 20% for the Lower Debolt Formation. There was a greater difference in average water saturation calculations with the Elkton Formation have a value of 38% and the Lower Debolt a value of 22%. Using these parameters results in a Petroleum Initially-In-Place (heavy oil) determination of 1,264 MMSTB for the Elkton and 1,449 MMSTB for the Lower Debolt as shown in the volumetric calculation on Tables 2i and 2j.

Economic Analysis/Feasibility Study

The following is an excerpt from the Evaluation of Prospective Resources Report which has an effective date of January 1, 2011. The values are presented on a net 100% working interest.

The economic and risk analysis, justifying the participation in this project is presented in the Discussion of the report and a summary of the "before and after risk" values for the typical four section development block evaluated herein is presented below:


----------------------------------------------------------------------------
Company Net Value, Thousands of Dollars
----------------------------------------------------------------------------
Before Risk After Risk
----------------------------------------------------------------------------
Undiscounted $ 2,350,887 $ 523,000
----------------------------------------------------------------------------
Discounted @ 5%/year $ 1,193,133 $ 258,000
----------------------------------------------------------------------------
Discounted @ 10%/year $ 632,903 $ 130,000
----------------------------------------------------------------------------
Discounted @ 15%/year $ 347,418 $ 66,000
----------------------------------------------------------------------------
Discounted @ 20%/year $ 195,427 $ 32,000
----------------------------------------------------------------------------

The Cougar farm in is on the TAMM properties evaluated in Appendix A of the document.

The 2 section farm-in agreement allows Cougar to earn 100% working interest by drilling one well. After reviewing updated ortho-photo maps to confirm the surface location the Corporation is proceeding with the permitting of the heavy oil well. During the drilling operations the Elkton and Debolt formations will be cored to assist with additional fluid analysis and petrophysical evaluation. In addition to the tremendous value the core will provide the well location has been selected as the optimum location to conduct a heavy oil cold flow production test. The Elkton and Debolt formations will be perforated and the production inflow will be monitored and tested.

Mr. William Tighe, CEO and Chairman of the Board for Cougar stated, 'We are very happy to be able to present this updated Manning Resource Report for the shareholders to review. It presents a detailed analysis of the development costs and revenues of a carbonate heavy oil thermal project. I would encourage all of the Cougar shareholders to review the report.

The analysis resulted in an estimated risked NPV-10 gross value of $130 million for an arbitrary four (4) section block of land. With the heavy oil mapped to an average of 51 ft in the Elkton and 32 ft in the lower Debolt over the 47 sections and comparable to the 4 section project - there is an expectation to extend the 4 section valuation to the 47 sections heavy oil mineral rights - This project with an estimated 2.7 billion barrels of heavy oil initially in place is quickly becoming apparent that it has the opportunity to provide tremendous value to the shareholders.

The well Cougar is preparing to drill this late summer in Manning will provide key information to the planning and development of this area. The primary objective of the well is to test the cold flow production potential from an identified 'sweet' spot of the Elkton and Debolt reservoir. The preserved core that will be recovered will provide key reservoir information including oil and water saturations and oil viscosity. We will also be able to use samples of the core to test the effectiveness of various thermal and solvent treatments which may be utilized throughout the farm-in lands.

In addition to satisfying the earning requirements of the two section heavy oil farm-in the well being drilled will also include additional testing and coring analysis which will qualify as a portion of the work program earning commitment for the TAMM farm-in.

We have updated the Manning Project on our web site and the corporate presentation to reflect our view of the short term and longer term goals and objectives for the corporation.

About Cougar Oil and Gas Canada Inc.:

Cougar Oil and Gas Canada Inc. (OTCBB: COUGF) is based in Calgary, Alberta, Canada and a publicly traded oil and gas exploration and production company. The focus is on the exploration and development of Canadian based onshore oil and gas properties. The current projects are the Trout light oil production area in north central Alberta, First Nation Joint Venture and area projects located in north central Alberta, Lucy a shale gas project in the Horn River Basin in northeast British Columbia and the Manning area farm ins heavy oil projects.

Additional information is at http://www.cougaroilandgascanadainc.com or http://www.cougarenergyinc.com.

Forward-looking Statements: This press release contains forward-looking statements. The words or phrases "would be," "will" "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," or similar expressions are intended to identify "forward-looking statements". The Company's business is subject to various other risks and uncertainties, which may be described in its corporate filings (www.sec.gov) or (SEDAR in Canada). Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Cougar Oil and Gas Canada Inc. undertakes no obligation to update or publicly revise forward looking statements or information unless so required by applicable securities laws.

Contacts:
Cougar Oil and Gas Canada Inc.
Investor Relations
+1(403) 513-2664
info@cougarenergyinc.com
www.cougaroilandgascanadainc.com
www.cougarenergyinc.com

Source: Cougar Oil and Gas Canada Inc.


get more alerts buy sighing up for them at $ Road to Riches $

http://investorshub.advfn.com/boards/board.aspx?board_id=21335

Very nice! Been travelling this week and the blackberry is the worst device for trying to keep up on here. Hope things are good in your "hood". b

I found a little something.

I have not, but to be honest, I've been swamped and am just awaiting some interesting news about it.

Heard any reports on the multi well project announced earlier this month?

I must agree, great call.

trade range is tightening... any news and it may creep back toward the $2.50 to $3 range... Oil's sure not gone down much so any producing wells have to be helping the bottom line.

Excellent call!

Look at chart. Should retrace to 2.40 at least

The chart sure shows this being so oversold its unreal... hope you are right. ;) I"m skeered at this level. Need a base.

http://stockcharts.com/h-sc/ui?s=COUGF&p=D&yr=0&mn=2&dy=0&id=p81759466026

bought in today, i'm looking for an easy 10-20% up by fri. Look at eod action. Up from here

argh...

I sure am thinking its getting close simply on 'volume' alone... its easy to bring a stock down on NO volume, its keeping it there on news thats hard... I may look to start re accumulating at this level! Watching the chart at this point...

dose anyone think cougf has hit bottom yet? I am thinking of cutting my loses and getting into lucas energy (lei).

Watching to see if this was a bottom bounce.. so far looks like it may have been.

http://stockcharts.com/h-sc/ui?s=COUGF&p=D&yr=0&mn=2&dy=0&id=p81759466026

http://stockcharts.com/h-sc/ui?s=COUGF&p=D&yr=0&mn=2&dy=0&id=p81759466026

Well.. If there is a bright note, this bounced right off the 200mda

Watching it this week to see if it tests the 2.48 range again.

I am hoping it will bump back up...

I can't imagine this stuck at this level. Any thoughts?