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GGSIF 2.55 .62-- GIANT OIL & GAS INC

Giant Oil & Gas Engages Firm for Drilling Program
2/4/2008

CALGARY, ALBERTA, Feb 04, 2008 (MARKET WIRE via COMTEX News Network) --
Giant Oil & Gas (OTCBB: GGSIF) is pleased to announce it has engaged a Calgary-based petroleum exploration firm to assist in the planning, permitting and execution of a drilling program on its 100%-owned Suffield project in Alberta.

"We have identified targets on our Suffield Project, and are pleased to now have the support in place for program-execution and operations," says Rob Sandhu, president of the company.

The company's Suffield Project consists of more than 5,200 acres in the center of one of the largest petroleum-producing regions in North America. The Suffield area is known for its prolific production including heavy oil. In a larger sense, the area itself sits within an area of petroleum deposits covering several thousand square kilometers, with more than 50,000 wells currently in production.

Giant Oil & Gas is a junior petroleum exploration company, with its head office located in Calgary, Alberta.

Giant Oil & Gas is a trademark of Giant Oil & Gas Inc. This announcement contains forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, risks related to petroleum exploration, limited access to operating capital, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in Giant's filings with the Securities and Exchange Commission which may be accessed through the SEC's web site at http://www.sec.gov.

Contacts: Giant Oil & Gas Inc. Investor Relations 1-877-444-5015 Email: [e-mail] Website: www.GiantOilInc.com

SOURCE: Giant Oil & Gas Inc.