Pace Oil & Gas Ltd. Announces New Board Member

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CALGARY, ALBERTA--(Marketwire - Oct. 11, 2011) -

Pace Oil & Gas Ltd. ("Pace" or the "Company") (TSX:PCE) is pleased to announce that Mr. David Tuer has joined the Board of Directors.

Mr. Tuer is the Vice Chairman and Chief Executive Officer of a private oil and gas company. He is an independent businessman with a professional engineering background. Mr. Tuer was Chairman of the Calgary Health Region from 2001 to 2008 and also served as Chairman of Mount Royal College. He has held senior executive positions in various energy companies throughout his career. Mr. Tuer is the former President and Chief Executive officer of PanCanadian Petroleum Limited, prior to its merger in 2002 with the Alberta Energy company to form EnCana Corporation. He also currently serves on the Board of Directors of Daylight Energy Ltd. and Canadian Natural Resources Ltd.

Fred Woods said the appointment of Mr. David Tuer to the Board provides significant additional oil and gas industry knowledge and experience which will help with the growth strategy of the Company. "We are delighted to have been able to secure a director with David's experience in the industry and at such an important stage in the Company's growth" Mr. Woods said. "It is extremely rare to find someone with such a wealth of technical, financial and corporate oil and gas experience."

Pace Oil & Gas Ltd. is a Calgary, Alberta based intermediate sized exploitation and exploration company that has a portfolio of oil and gas resource opportunities to pursue in the Western Canadian Sedimentary Basin. Pace has a solid oil production base in Dixonville, a significant oil resource play inventory in Southern Alberta to combine with its light oil property in Red Earth, plus a prolific natural gas resource base in the sweet spot of the Deep Basin.

Pace's common shares trade on the TSX under the symbol PCE.

FOR FURTHER INFORMATION PLEASE VISIT OUR WEBSITE AT WWW.PACEOIL.CA.

 
Pace Oil & Gas Ltd.
Fred Woods
President & CEO
(403) 303-8505
fwoods@paceoil.ca

Pace Oil & Gas Ltd.
Judy Stripling
Executive Vice-President & CFO
(403) 303-8502
jstripling@paceoil.ca
www.paceoil.ca