For further information, please contact Mr. David Calnan, Director at (403) 299-9606

Oil and Gas Inc.

PRESS RELEASE

TSX VENTURE EXCHANGE STOCK SYMBOL: RIP.H

FOR IMMEDIATE RELEASE

March 26, 2012 Calgary, Alberta

RIPPER OIL AND GAS INC. (“Ripper”) announces that it will not enter into a binding agreement for its previously announced business combination with Xogen Technologies Inc. The Directors of Ripper have declared a dividend of $.01 per Common Share of Ripper. The dividend is an eligible dividend. Payment will be made on or about April 15, 2012, to shareholders of record on March 31, 2012. Ripper has filed a Notice of Intent to Dissolve with Alberta Corporate Registry and a Certificate of Intent to Dissolve was issued by Alberta Corporate Registry on February 15, 2012. Ripper intends to dissolve on a date following the payment of the dividend.

For further information, please contact Mr. David Calnan, Director at (403) 299-9606