Statement from Matrix Oil Corporation

/ Source: GlobeNewswire

LOS ANGELES, Nov. 4, 2010 (GLOBE NEWSWIRE) -- In response to the Open Space Legal Defense Fund filing a lawsuit against the County of Los Angeles, the City of Whittier and other parties regarding the development of the Whittier Main Field Oil Project, Michael McCaskey, Executive Vice President of Matrix Oil Corporation issued the following statement:

"I want to make clear that, although listed as an interested party, Matrix is not named as a defendant in the lawsuit and no wrongdoing is alleged by Matrix. The only reason Matrix is listed as an interested party is a result of our role as lessee of the property in question.  

I believe that it is premature for any individual or group to jump to conclusions regarding this project. Matrix looks forward to continuing our dialogue with the City and the community to discuss ideas and answer questions related to the Whittier Main Field Oil Project." 

CONTACT: Matrix Oil Corporation (818) 641-6200