Stetson Oil & Gas Ltd.: Redemption and Delisting of Preference Shares

Stetson Oil & Gas Ltd. (TSX VENTURE:SSN), a Forbes & Manhattan Energy Group
Company, will redeem all of the company's issued and outstanding preference
shares in accordance with their terms on January 20, 2014. Stetson issued the
preference shares on November 18, 2008 in connection with the company's claim
against Stifel Nicolaus Canada Inc. (formerly Thomas Weisel Partners Canada
Inc.) for the 2008 failed bought deal financing. The redemption follows the
lapse of the entitlements of the preference shareholders to receive a portion of
any litigation funds secured by Stetson prior to December 31, 2013. 


The redemption price will be $0.0001 in cash per preference share, representing
the amount of paid up capital of the preference shares. A notice of redemption
providing additional details will be mailed to the holders of the preference
shares on or about January 13, 2014.


As soon as reasonably practicable following January 20, 2014, Stetson will apply
to the TSX Venture Exchange to delist the preference shares from trading. 


Regulatory Statements 

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, without limitation, statements regarding the redemption and delisting
of the Stetson preference shares. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Stetson, as the case may be, to be
materially different from those expressed or implied by such forward-looking
information, including but not limited to: general business, economic,
competitive, geopolitical and social uncertainties; the actual results of
current exploration activities; risks associated with operation in foreign
jurisdictions; ability to successfully integrate acquired properties; foreign
operations risks; and other risks inherent in the oil and gas industry. Although
Stetson has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. Stetson
does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Stetson Oil & Gas Ltd.
Ahmed Said
Chief Executive Officer
+1 (416) 305-4342
asaid@forbesenergygroup.com

Stetson Oil & Gas Ltd. (TSXV:SSN)
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