Oyster Confirms Good Quality Oil Source Rock in Madagascar

VANCOUVER, BC / ACCESSWIRE / December 12, 2017 / Oyster Oil and Gas Ltd. ("Oyster" or the "Company") (TSX-V: OY, FSE: 13L) commissioned an independent geochemistry study by UK-based GH Geochem Ltd. of core samples recovered from a well drilled as part of the 4 well coring campaign carried out in Block 1101 in Q3/Q4 2014. The cores were recovered from a well drilled at Ankaramy, which is adjacent to some very large, highly prospective anticlinal structures located on the Ampasindava Peninsula, in the southwest of Block 1101.

In summary, the biomarker evaluation of the migrated oil not only confirms the presence of migrated petroleum but also shows that the oil is from a peak mature, clay-rich source rock deposited in a marine nearshore environment, probably migrated from more deeply buried Jurassic or perhaps older source rocks.

Dr. Phil Roach, Oyster's Head of Exploration, commented, "It has taken three years for Oyster to get access to these well cores and undertake this important piece of geochemical analysis work done, which confirms that there is a viable working petroleum system in this part of Madagascar."

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 100% working interest and is the operator of an onshore block located in northwest 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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SOURCE: Oyster Oil and Gas Ltd.