Hudson Appoints Arkadiusz Krezel as Vice-Chair

Strengthens Board's Polish Business Expertise

TORONTO, July 29, 2011 /PRNewswire/ - Hudson Oil Corporation Ltd. (H8D: FSE) today announced that it has appointed Mr. Arkadiusz Krezel as Vice-chairman of the Board of Directors. An experienced business executive, Mr. Krezel will provide the Company with in-depth expertise in the Polish and European business environment, particularly heavy industry.

Mr. Krezel's industry experience extends from coal to metals and banking and includes restructuring and privatization work. He is currently the President and Chairman of the Supervisory Board of Aluminium Konin-Impexmetal SA. He also serves on the Supervisory Board of Boryszew SA. Prior to this, he served as Chairman of the Management Board of the Polish Industry Development Agency. He has held many other board positions in Polish industry and also advised the Polish government on numerous economic matters. Mr. Krezel is a member of the Polish-Japan Economic Committee and serves on the Management Board of the Polish-French Economic Chamber.

"Mr. Krezel's long experience in Polish business and government adds bench strength to our Board," said Hudson's Chairman, Wjociech Janowski.

About Hudson Oil Corporation:

Hudson is a Canadian company focused on the acquisition of under-valued energy assets and the execution of business strategies to maximize their value. Efforts are presently directed at downstream energy opportunities in Eastern Europe. Currently, the Company's principal asset is the Glimar refinery complex in southern Poland, which is equipped with unique and industry-leading technology. The Company is developing and executing a restart plan for Glimar.

Forward-looking statements:

Some of the statements contained in this release are forward-looking statements, such as statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of the Company's business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Hudson Oil Corporation Ltd. does not intend to update any forward-looking statements to conform these statements to actual results.

SOURCE Hudson Oil Corporation Ltd.