Base Oil and Gas Ltd. announces second quarter ended June 30, 2010 financial
statements and corporate update

Symbol: BOG: TSX Venture

CALGARY, Aug. 13 /CNW/ - Base Oil and Gas Ltd. ("Base Oil and Gas" or the "Corporation") is pleased to announce the financial and operating results for the quarter ending June 30, 2010. The Corporation has filed its financial statements and related management's discussion and analysis for the quarter ended March 31, 2010 on www.sedar.com.

Base Oil and Gas Ltd. is a Calgary based emerging oil and gas company, focused on the development of Cardium oil & gas reserves in the Western Canadian Sedimentary basin.

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.

ADVISORY: Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with obtaining applicable regulatory approvals, including the approval of the TSX Venture Exchange. Readers are cautioned that the foregoing list of factors is not exhaustive.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release are made as of the date of this news release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

For further information: Base Oil and Gas Ltd., Dennis Feuchuk, CMA, President and Chief Executive Officer, Phone: [phone], Fax: [phone], E-Mail: [email protected]; or Roy Evans, C.A., Vice President, Finance and Chief Financial Officer, Phone: [phone], Fax: [phone], E-Mail: [email protected]