Kenartha Oil and Gas Co. Ltd.
Kenartha Oil and Gas Co. Ltd.: CLARIFICATION – 400 UNITS – 1 UNIT COMPRISED of one thousand (1,000) flow through common voting shares @ $5,500.00 PER UNIT

Kenartha Oil and Gas Co. Ltd. / Miscellaneous

Release of a Corporate-announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Frankfurt                                        Kenartha Oil and Gas 
Symbol 'KJ5'                                     Company Limited
                                                 4 King St. W. Suite 1320
                                                 Toronto, Ontario, M5H 1B6
                                                 Tel: (416) 368-9595
                                                 Fax: (416) 368-6827
10,895,790 SHARES ISSUED


Date: Mar. 21,2007
CLARIFICATION – 400 UNITS – 1 UNIT COMPRISED of one thousand (1,000) flow
through common voting shares @ $5,500.00 PER UNIT

KENARTHA RAISING $2.2 MILLION FOR NEXT WELL DRILLING OF THE EXPANSION
PROGRAM IN SOUTHERN ONTARIO


Toronto, Ontario - Kenartha Oil & Gas Company Limited (Frankfurt Exchange:
KJ5), an explorer and developer of natural gas resources, would like to
clarify the contents of its previous release dated Mar. 2, 2007 due to a
clerical and administrative error.
 
The company is pleased to announce that it is in the process of raising CDN
$2,200,000 for the drilling of the next 15 wells in the expansion program
in southern Ontario, Canada.

The Offering consists of 400 units in the capital stock of Kenartha Oil &
Gas Company Limited at a subscription price of $5,500.00 per unit. Each
unit shall be comprised of one thousand (1000) flow through common voting
shares and one (1) warrant having the right to a percentage (calculated as
'100% / total units subscribed') of the net profit generated from the
producing wells equivalent to $5,005.00, and thereafter retain a net profit
interest ('NPI') royalty (percentage calculated as '24% / total units
subscribed') in each of the drilled wells, per the next 15 well Project.
The warrant at a price of $2,500.00 shall be exercisable up to forty (40)
days after notification from the Company reporting the flow test results of
the first six wells drilled (or for the number of wells drilled if the
total is less than 6 wells due to funding), (the 'Unit').

Flow-through shares are a Canadian Federal and Provincial tax incentive
that allows the company to renounce the drilling expenditures to Canadian
tax paying investors that can be applied by the investors as a deductible
expense in their income tax calculations.

Company management is confident in the Offering being fully subscribed,
based on the success of the previous offering.

About Kenartha Oil and Gas Company Limited 
Kenartha Oil & Gas Company Limited (Kenartha) is an oil and natural gas
exploration, acquisition, development and production firm. The Company
holds interests in natural gas production facilities in southern Ontario,
Canada near Canada's first oil wells. Kenartha has sales agreements with
Union Gas Limited for the purchase of its natural gas production. Kenartha
is traded on the Frankfurt Exchange under the symbol 'KJ5'. For further
information please visit the company’s website at kenartha.com.

WARNING: The company relies upon litigation protection for
'forward-looking' statements.Information presented in this newsletter
contain 'forward looking statements' within the meaning of Section 27A of
the Securities Act of 1933 and Section 21B of the Securities Exchange Act
of 1934. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, goals,
assumptions or future events or performance are not statements of
historical fact and may be 'forward looking statements.' Forward looking
statements are based on expectations, estimates and projections at the time
the statements are made that involve a number of risks and uncertainties
which could cause actual results or events to differ materially from those
presently anticipated. Forward looking statements in this action may be
identified through the use of words such as 'projects', 'foresee',
'expects'', 'will,' 'anticipates,' 'estimates,' 'believes,' 'understands'
or that by statements indicating certain actions 'may,' 'could,' or 'might'
occur.


For further information contact:
 
Mr. Ernest Harrison, EM, CEO      
Mr. Marty Martinello, B.A., V.P.
Phone: 705-474-7282
Fax: 705-474-5491
ernie@kenartha.com

Mr. Robert Chase, B.A., CFO
Phone: 416-368-9595
Fax: 416-368-6827
rob@kenartha.com
 
No regulatory authority or similar body approved nor disapproved the
information contained herein.
   






DGAP 21.03.2007 
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