Sep. 8, 2009 (Business Wire) — Cobra Oil & Gas Company (OTCBB: CGCA) (hereafter “Cobra”) is pleased to notify an approval by the Obama administration for a pipeline to carry oil-sands fuel from Canada into the U.S., sending a positive economic signal in a difficult economic period. The pipeline will amass 1000 miles and is designed to carry up to 800,000 barrels of fuel a day from Canada’s vast oil sands.

Enbridge Energy will take on the building of the pipeline as the U.S. aims to diversify oil supplies coming into the country and increase crude oil supplies from a major non-Organization of Petroleum Exporting Countries producer while shortening the transportation path for crude oil supplies.

“As the United States looks for more diverse oil supplies for domestic use, the Oil Sands will consequently gain importance,” stated Max Pozzoni, Cobra’s President. “The enormous oil sands potential within North America will