Acquisition of Securities of Ripper Oil and Gas

RIPPER OIL AND GAS INC.

1620 – 609 Granville Street Vancouver, BC V7Y 1C3 Telephone: (778) 331-8505

ACQUISITION OF SECURITIES OF RIPPER OIL AND GAS

Vancouver, BC, Canada – November 8, 2012 – Ripper Oil and Gas Inc. (the "Company') (TSX-V: RYP.H) announces that pursuant to a share purchase agreement between Desmond Holdings Ltd. ("Desmond") and The Emprise Special Opportunities Fund, Limited Partnership ("Emprise LP") which closed on November 8, 2012, Desmond acquired (the "Acquisition") 1,000,000 units of Ripper Oil and Gas Inc. from Emprise LP at a price of $0.10 per unit for aggregate consideration of $100,000. Each unit consists of one common share of the Company, and one share purchase warrant, with each share purchase warrant being exercisable for one common share of the Company at a price of $0.10 per common share until May 29, 2013.

Prior to the Acquisition, Desmond had ownership and control over 4,000,000 common shares and 4,000,000 share purchase warrants of the Company. Immediately following the Acquisition, Desmond has ownership and control over 5,000,000 common shares and 5,000,000 share purchase warrants of the Company, representing 39.66% of the Company's current issued and outstanding common shares (56.78% on a partially diluted basis assuming the exercise of all of the share purchase warrants held by Desmond).

Desmond has acquired the securities for investment purposes and, as disclosed in the National Instrument 62-103 Early Warning Report (the "Report"), may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

A copy of the Report filed with the applicable securities regulators regarding the above acquisition is available on SEDAR (www.sedar.com).

For further information, contact:

Scott Ackerman

(866) 824-8938

008396000-00105170; 1