AUSTIN, TX--(Marketwire - May 9, 2012) - Riverdale Oil and Gas Corporation (PINKSHEETS: [ RVDO ]) continues to increase its assets with small percentages of ownership, acquired at low costs, and minimal risk exposure. Riverdale's growing asset base will provide it with a continual funding source on which to build.

Riverdale has announced a significant discovery in the Lampley #1R well located in Lavaca Co., Texas. The well recently tested a half a million cubic feet (510 MCF) gas per day on a very small 7/64" diameter choke, flowing at 1960# of pressure, from perforations at 5384'-5388'. The tests ranged up to a million cubic feet of gas per day (1000 MCF). The well test revealed condensate, which is estimated to be in the range of 25 to 30 barrels per day per 1000 MCF of gas. Riverdale owns a 1.667% carried working interest in this well. The Lampley #1R is one of the first wells to be readied for production that is owned by Riverdale. Plus, two other wells in the completion phase are described in the following paragraphs.

The Blue Wing Lee #1 well in Victoria Co., Texas, a recent Riverdale acquisition, is waiting on field equipment and its pipeline connection to begin selling approximately 300 MCF gas per day. The well tested around 600 MCF per day on a small choke and has 740# shut-in pressure. The equipment installation & pipeline hookup are expected to be finished by the end of this month. Riverdale owns a 1% carried working interest in this well.

The Operator of Riverdale's Sills #1 carried working interest, is still testing the well for frac stimulation analysis. The well has been flowing small amounts of oil and condensate from its oil reservoir and massive gas sands, along with 90 to 125 MCF of gas per day, without any stimulation. A Hydraulic Frac stimulation procedure can increase the sand permeability by as much as 2000% or more. Riverdale owns a 1% carried working interest in the Sills #1 well also located in Victoria Co., Texas.