VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Ryland Oil Corporation (TSX VENTURE:RYD) is pleased to announce that it has increased the amount of its private placement disclosed in its news release of October 23, 2008. The Company had proposed to issue up to 22,222,300 flow-through common shares a price of $0.45 per share for gross proceeds of up to $10,000,035; however, due to the increased demand, the financing has been increased up to 33,334,000 shares for gross proceeds of $15,000,300. Ryland has engaged GMP Securities L.P. ("GMP") as sole agent to place the financing on a commercially reasonable "best efforts" basis. GMP will be paid a commission of 6% of the gross proceeds of the financing. All proceeds of the financing will be used to further the Company's exploration drilling activities on its 373,000 net acres of petroleum and natural gas properties in southeast Saskatchewan. The closing of the financing is expected to occur on or around November 13th, 2008.

The proposed financing is subject to regulatory approval.

RYLAND OIL CORPORATION

Gerald J. Shields, President

Issued and Outstanding: 161,929,906

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this news release, and no regulatory authority has approved or disapproved the information contained herein.

For more information, please contact

Ryland Oil Corporation
Mr. Jim Welykochy
Vice President Corporate Development
(403) 861-1242
Website: www.rylandoil.com