Oyster Oil and Gas Ltd. Announces Interim Financing

Suite 918-1030 West Georgia Street Vancouver, British Columbia Canada V6E 2Y3 Tel. No. (604) 628-5621 ♦ Fax No. (604) 662-7950

TSX-V Trading Symbol: OY

Oyster Oil and Gas Ltd. Announces Interim Financing

Vancouver, British Columbia –May 13, 2016 – Oyster Oil and Gas Ltd. ("Oyster" or the "Company") announces that it has arranged interim finance in the form of debt for an aggregate of the equivalent of Cdn$110,000 from related parties (the “Financings”). The Financing consists of four unsecured promissory notes, due September 30, 2016 and bearing interest at 5% per annum. The collective Financings will be used to fund ongoing work and the working capital requirements for the Company.

About Oyster Oil and Gas Ltd.

Oyster is an upstream oil and gas company with a focus on Eastern Africa. Oyster holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and holds a working interest in an onshore block in Madagascar covering approximately 2.8 million acres.

For further information please contact:

Emily Davis, Corporate Secretary Tel: (604) 628-5616 Fax: (604) 662-7950

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