SSN

STETSON OIL & GAS LTD. (TSX VENTURE: SSN) ("Stetson") reports that it has filed the reports relating to reserves data and other petroleum and natural gas information required pursuant to National Instrument 51-101 for the year ended December 31, 2010. A copy of the Stetson Forms 51-101F1, 51-101F2 and 51-101F3 are available under the profile of the Company on SEDAR at www.sedar.com.

Stetson is a junior oil and gas company with exploration, development, and production assets in North Dakota, USA.

Cautionary Note Regarding Forward-Looking Information: This press release contains "forward looking information", within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements regarding corporate strategy; current strategic initiatives; prospective nature of the Company's properties; estimates regarding future production; and the future financial and operating performance of Stetson and its projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social risks and uncertainties; risks relating to oil and gas exploration and exploitation activities; oil and gas prices; transaction risks; and delays in obtaining regulatory approvals. Although Stetson has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Stetson does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

Contacts: Stetson Oil & Gas Ltd. Ahmed Said Chairman & CEO +1 (403) 263 3000 asaid@forbesenergygroup.com Stetson Oil & Gas Ltd. Bob Petryk Operations Manager +1 (403) 531 1711 bpetryk@forbesenergygroup.com