Chelsea Oil & Gas Ltd. Announces Filing of First Quarter 2014 Financial Statements and Management's Discussion and Analysis

Chelsea Oil and Gas Limited

Calgary, AB, Canada, May 30, 2014 (GLOBE NEWSWIRE) -- Chelsea Oil & Gas Ltd. ("Chelsea") (OTCQB: COGLF) announces that it has filed its audited consolidated financial statements and accompanying notes for the three month period ended March 31, 2014 and its related management's discussion and analysis with applicable Canadian securities regulatory authorities. Copies of these documents may be obtained through the Internet on the System for Electronic Document Analysis and Retrieval ("SEDAR") at

About Chelsea Oil & Gas Ltd.

Chelsea Oil & Gas is an Australian focused exploration, development and production company with 5.2 million net acres of land onshore Australia. Chelsea has a portfolio of assets which include 6 oil and 1 gas discovery with independently evaluated 2P reserves of 1.1 million boe (net), a fully carried seismic and drilling programme in a proven exploration play in the Cooper Basin, and significant resource potential in two emerging unconventional plays offsetting supermajors who have committed to invest up to $545 million in the next 3 years on immediately offsetting lands in the Georgina and Simpson Basins.

CONTACT: Chelsea Oil & Gas Ltd. +1 (403) 457-1959

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