Xtreme Oil & Gas Highlights 2009 Accomplishments

Xtreme Oil & Gas Highlights 2009 Accomplishments

December 31, 2009

Plano, TX - 2009 has been a year of significant accomplishment for Xtreme Oil & Gas, Inc. (”Xtreme” or the “Company”). From the oil patch to the boardroom, we have become one of the fastest growing oil companies in Texas. Since inception, the firm’s strategic focus has been centered upon the acquisition and re-development of proven producing oil & gas properties to produce minerals through reworking of wells, upgrading existing production or drilling new wells which make economic sense.

1. We have successfully drilled a well with four horizontal extensions on the Lionheart property that is currently producing oil and gas.

2. We are currently reworking several wells on the West Thrifty property and preparing additional production and a project offering on the property.

3. We launched the Saltwater Disposal Well in October and were fully funded before year’s end. The property has been acquired and the initial surface work is being done. We anticipate drilling in February.

4. In preparation for our stock offering we have completed the drafting of our Form 10 Registration Statement for filing with the SEC. Those documents will be filed as soon as they complete attorney review. Our stock will be trading on the OTCBB within 90 days of final approval from the SEC.

5. We received all necessary shareholder approvals to enact a merger into a Nevada company and restructure the capitalization table. As a result we have eliminated over 20 million warrants and shares previously outstanding.

6. Last but not least we have brought in an experienced Chief Operating Officer to help us grow our business and achieve our goal of producing 3000 bbl of oil per day in 2013.

7. We have done all this with the support of our investors, contractors and employees and continue to produce on over 1800 acres in Texas and Oklahoma.

Our goals for 2010 include becoming a publically reporting company, reaching full production on the Lionheart Well, completing the Saltwater Well and, launching the West Thrifty Project , successfully.

Will McAndrew, CEO and President of Xtreme, commented, “We have closed this year with a set of achievements that provide the foundation for continued success in the future. We look forward to filing our Form 10 and completing more projects to increase our daily production.”

About Xtreme Oil & Gas, Inc.

Xtreme Oil and Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations focused in the southern United States.

Xtreme strategy is to increase value by profitably growing our reserves, production, cash flow and earnings using a balanced program of developing existing properties, exploring and exploiting undeveloped or abandoned properties, and completing strategic acquisitions while maintaining financial flexibility.

The Company is currently producing commercial quantities of oil and gas from properties it owns and operates in Texas and Oklahoma.

Xtreme continues to expand operations and increase our production of crude oil and natural gas to maximize shareholder value while doing our part to provide to for America’s energy needs now and for the future.

Notice Regarding Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the ability of Xtreme Oil & Gas, Inc. (”Xtreme” or the “Company”) to successfully drill any wells or proceed with the commercial production of its properties or that it will be able to exploit, develop, acquire, finance, operate, or make profitable, any of the commercial opportunities discussed or described herein. These forward-looking statements are not historical facts and can be identified by the use of forward-looking words or phraseology such as “believes,” “expects,” “may,” “intends,” “anticipates,” “plans,” “estimates,” and analogous or similar other expressions intended to identify such forward-looking statements. Actual results could differ materially from those reflected in such forward-looking statements. Xtreme and its principals will not assume any obligation to update any of the forward-looking statements to reflect any events, facts, or circumstances that may arise other than as may be required by applicable law or regulation.