Consolidated Oil Gas CFO News

Safe Harbor Statement: This press release may contain forward looking statements, as defined in the Securities Reform Act of 1995. Actual events or results may differ from Consolidated Oil & Gas, Inc. expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties: including economic conditions, and availability of timely financing for projects.

Consolidated Oil and Gas, Inc. (Stock Symbol: CSLG) is pleased to announce they have retained Douglas Newman as full-time Chief Financial Officer (CFO) of the company.

Mr. Newman has eighteen years of experience as partner of a CPA firm. Mr. Newman has also amassed fifteen years in the public industry where he has served as both CEO and CFO of small publicly traded companies. He has extensive SEC experience which includes IPO's and taking companies from the pink sheets to the bulletin board. Mr. Newman also has in all SEC filings.

Mr. Newman has reviewed many oil and gas projects and served as an advisor to Companies on the pricing and structure of many projects.

Mr. Newman, who has been consulting with Consolidated for the last eight months stated: "I was very impressed with Mr. Yeatman and the projects he has put together. His vision for the growth of Consolidated is very clear. I felt it worth while to give up my consulting practice to be on the ground floor of this opportunity."

Mr. Yeatman stated: "As Consolidated seeks to move to the bulletin board and then to one of the exchanges, Mr. Newman will continue to be a great asset to the Company."