July 28, 2008

Power Oil &Amp; Gas Acquires Land in Southern Alberta

Power Oil & Gas Inc. (OTCBB: PWOIF) is pleased to announce that it has acquired the petroleum and natural gas rights to 10 leases in southern Alberta. The parcel covers 1,911 hectares (approximately 4,700 acres). Power Oil & Gas has acquired 100% of the petroleum and natural gas rights.

The land package includes approximately 2,400 acres in the Taber/Grand Forks area (in T11 R14 and T10 R15).

Power Oil & Gas is a junior petroleum exploration company with its head office located in Calgary, Alberta. Power Oil & Gas is a trademark of Power Oil & Gas Inc.

This announcement contains forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, risks related to petroleum exploration, limited access to operating capital, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the Company's filings with the Securities and Exchange Commission which may be accessed through the SEC's web site at http://www.sec.gov.

 Contacts: Power Oil & Gas Inc. Investor Relations 1-866-552-0366 or (403) 775-7275 Website: www.poweroilinc.com

SOURCE: Power Oil & Gas Inc.