Osyka Corporation (“Osyka”), a Houston-based energy company specializing in the exploration, production, development, and acquisition of oil and gas properties, today announced the spudding of the City of Laurel 3-10 Well No. 1 to test the Adam Prospect.

“This promising fault block is expected to yield significant reserves if a discovery is achieved,” said Osyka founder and CEO Michael Harness. “Osyka’s highly experienced team sees significant potential in the Adam Prospect, and we will work expeditiously towards successful drilling and completion.”

Osyka Corporation spudded the City of Laurel 3-10 Well No. 1 on July 23, 2010 to test the Adam Prospect located in the West Laurel Field, Jones County, Mississippi. The well will be drilled to a total depth of 14,500 feet to test the Rodessa, Sligo and Hosston sands. The well is an offset to the Wilson 35-15 Well No. 1 discovery well drilled in November 2009.

The company’s management team has a strong track record of finding underdeveloped oil and gas exploitation opportunities principally in the onshore Louisiana, Mississippi and Texas Gulf Coast. Currently, the company has an interest in approximately 18 wells in Texas and Mississippi, with an average working interest of 70%.

ABOUT OSYKA CORPORATION

Osyka Corporation is an oil and gas company headquartered in Houston, Texas, and is a Nevada corporation. The company is an independent exploration and production company with a focus on acquiring producing oil and gas properties located onshore in the Gulf Coast with upside economic potential.

For company information, visit www.osyka.com.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect Osyka’s current views with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to differ materially from the statements made including those factors detailed from time to time in filings made by Osyka with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Osyka does not intend and does not assume any obligation to update these forward-looking statements.

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