GGO Galleon Gold Corp

Greentree Gas & Oil Ltd. (TSX VENTURE:GGO) ("Greentree" or the "Company")
announced on April 12, 2010 that it would be unable to meet the filing deadline
of April 30, 2010 to file its Annual Audited Financial Statements and Management
Discussion and Analysis on the System for Electronic Document Analysis and
Retrieval (SEDAR) (collectively the "Annual Filings"). The Annual Filings have
not been made and the Company was also unable to file the required Certification
of Disclosure of Annual filings and Oil and Gas Disclosure documents (NI 51-101,
F1,F2,F3) at that time. The Company is unsure of when it will be able to file
its Annual Audited Financial Statements and Management Discussion and Analysis
but the Company intends to file the Oil and Gas Annual Disclosure documents (NI
51-101, F1,F2,F3) in the near future.


As a result of the Company not filing its Annual Filings by the filing deadline,
the Ontario Securities Commission (OSC) issued a "Cease Trade Order" prohibiting
further trading in the Company's shares on May 10, 2010. The TSX Venture
Exchange ("the Exchange") has suspended trading of Greentree's shares as a
result of the Cease Trade Order issued by the OSC. Reinstatement to trading can
occur only when the Cease Trade Order is revoked and the Exchange has concluded
its reinstatement review to ensure the Company has satisfactorily complied with
all the Exchange requirements. The reinstatement requirements for the Company
vary depending upon how long the Company remains suspended and whether the
Company meets the Tier Maintenance Requirements ("TMR") of the Exchange. If the
Company does not complete its reinstatement and does not meet the TMR within 90
days from the suspension date, the Exchange will transfer the securities of the
Company to NEX without further notice.


The Company intends to complete its Annual Filings in due course when resources
are available to do so, although the timing for that is unknown at this time
due, in part, to depressed natural gas prices - the Company's production base is
currently 72% weighted to natural gas. Greentree does intend on filing its Oil
and Gas Annual Disclosure documents (NI 51-101, F1,F2,F3) in the near future. In
the interim, the Company intends to continue to focus its human, financial and
other resources on its business of producing oil and gas. Once the Company's
securities regulatory filings are up-to-date, the Company intends to seek
reinstatement of the listing of its shares to provide a forum for trading of the
Company's stock, although the timing for that is unknown at this time.


Greentree Gas & Oil Ltd. is based in London, Ontario and is an explorer and
producer of oil and natural gas in southwestern Ontario.


Reader advisory:

Some statements in this news release that are not historical facts including
statements about plans and expectations about filing materials and securities
regulatory actions are forward-looking. Investors are cautioned that the
forward-looking statements of the Company may include certain estimates,
assumptions and other forward-looking information. The actual future
performance, developments and/or results of the Company may differ materially
from any or all of the forward-looking statements, which include current
expectations, estimates and projections, in all or part attributable to general
economic conditions and other risks, uncertainties and circumstances partly or
totally outside the control of the Company, including natural gas/oil prices,
reserve estimates, drilling risks, future production of gas and oil, rates of
inflation, changes in future costs and expenses related to the activities
involving the exploration, development and production of gas and oil hedging,
financing availability and other risks related to financial activities.

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