-- (Investrend Research Syndicate) -- Ernest C. Schlotter, a senior analyst with Zurich, Switzerland-based SISM Research and a four star analyst according to StarMine, has issued an update on Cougar Oil and Gas Canada, Inc. (OTCBB: COUGF) in a three-page report dated March 23, 2011, which includes an updated 18-month stock target valuation and analyst's rating.

The full report includes important disclosures, disclaimers and analyst information. SISM Research advises investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. SISM Research further advises that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor's total investigative process.

A complimentary copy of the report, which includes important disclosures, disclaimers and analyst's qualifications, is available for download via the SISM website (at http://www.sism.com/researchreportscougar.htm).

According to analyst Schlotter's report: "Since our last Company Update on January 26, 2011, Cougar made significant progress toward increasing light sweet oil production. The Company completed a two-well reaction program and one workover well and tied in with pipeline to the main Cougar facility. In addition, based on a seismic program completed in September 2010, Cougar began a multi-well drilling program and the first horizontal well was spud on February 21, 2011."

Schlotter also noted: "Cougar has diversified its production portfolio to heavy oil through the farm-in of two sections in the Peace River oil sands region, as well as signed a significant deal with Tamm Oil to farm-in a 47-section section of oil sands leasehold. A technical report indicates the prospect to contain in excess of 3.3 billion original barrels-of-oil in place, representing 1.65bn OOIP to the company based on a 50% WI in the project by spending up to $9M and consequently becoming the operator in this field."

SISM Research

SISM Research (http://www.sism.com) is a private investment research firm, based in Zurich, Switzerland, offering independent, fundamental research on public companies since 1995. SISM Research publishes research on micro- to small-cap companies trading on the OTC, NASDAQ, AMEX and TSX stock exchanges. SISM research coverage platforms are geared toward institutional and individual investors in both North America and in Europe. SISM Research, as a member-provider of the FIRST Research Consortium, takes steps to ensure the independence and integrity of SISM's published research that exceed those of the CFA Institute Code of Ethics and Standards of Professional Conduct and the CFA-NIRI Guidelines, by following the exacting "Standards for Independent Research Providers", which are also in accordance with guidance set forth by U.S. Securities and Exchange Commission's Advisory Committee on Smaller Public Companies.

The Investrend Research Syndicate

The Investrend Research Syndicate, a proprietary entity of Investrend Communications, Inc., distributes reports published by sources dedicated to unbiased, reliable analytics and complete transparency. The primary measure for determining those sources is the "Standards for Independent Research Providers."

"Safe Harbor" Statement

This announcement may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cougar Oil & Gas Canada to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cougar Oil & Gas Canada management assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission permits resource 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 may use certain terms on this press release, such as those related to prospective resources, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. US 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 SEC website.

Disclaimer

The OTC Bulletin Board Exchange has neither approved nor accepts responsibility for the adequacy or accuracy of the above news release.

Disclosures

SISM Research has researched and written this report without any input, contact, advice, or review from the company. This is done to ensure the integrity and independence of all reports undertaken by SISM Research. Any information is gathered from public sources of information including, but not limited to press releases, company Websites, and SEC filings. Morgarten Financial Services ("Morgarten") has retained and paid SISM Research ("SISM") eighteen thousand eight hundred and fifty US dollars to resume continuing coverage of Cougar Oil and Gas, Canada Inc., for a two-year period, and Morgarten is under contract to pay SISM an ongoing fee of one thousand eight hundred and fifty US dollars per month over that two-year period to ensure continuation of SISM's independent coverage of Cougar Oil and Gas, Canada Inc. SISM has paid Investrend Communications, Inc. ("Investrend") a portion of SISM's collected fees from Morgarten for a "distribution and visibility" program, provided by the Investrend Research Syndicate (Div., Investrend) in support of SISM's Cougar Oil and Gas Canada, Inc. coverage. No promise of favorable point of view or opinion was or has been made by SISM or the analyst(s) writing for SISM, to the subject company. Further, it is SISM's policy that neither the firm nor its principals, nor the firm's assigned and/or other writing analyst(s) own or trade shares of any subject companies or subject companies' "competitors". To assist the reader they should develop their own information they should go to the company website (at http://www.cougarenergyinc.com).

SISM Research
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research@sism.com
http://www.sism.com