CALGARY, Nov. 4 /CNW/ - Richards Oil & Gas Limited (the "Company"), (TSX Venture: RIX - News) Further to the Company's press releases dated October 6, 2009 and October 16, 2009, the Company announced today that it has closed the previously announced sale of its Thorsby property. The Thorsby property disposition was made to a private oil and gas company for proceeds of $1.4 million, reduced by normal course purchase and sale adjustments and approximately $45,000 in transaction fees.

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For further information

Dr. Brian Moss, Chairman of the Board, Richards Oil & Gas Limited, Tel: (403) 265-8444
Lonn Bate, CFO and Interim CEO, Richards Oil & Gas Limited, Tel: (403) 265-8444
Corporate website address: http://www.richardsoilandgas.com