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Press release from Marketwire

Algonquin Announces Corporate Update

Friday, April 16, 2010

Algonquin Announces Corporate Update12:13 EDT Friday, April 16, 2010CALGARY, ALBERTA--(Marketwire - April 16, 2010) - Algonquin Oil & Gas Limited ("Algonquin" or the "Corporation") (TSX VENTURE:AQX) is pleased to announce that at its annual meeting of the shareholders of the Corporation held on April 9, 2010 (the "Meeting"), the shareholders elected James D. Fair, George Leitch, Gregory Stewart, Russell Stewart and Leo F. Gaiswinkler to the board of directors of the Corporation.On April 15, 2010 a meeting of the board of directors was held. Mr. James D. Fair was elected President and Chief Executive Officer of the Corporation. Mr. Gregory Stewart was elected chairman of the audit committee and Mr. George Leitch was elected chairman of the reserves committee.FOR FURTHER INFORMATION PLEASE CONTACT: Algonquin Oil & Gas Limited James D. Fair (519) 354-4755 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.