Reliable Energy Ltd.
TSX VENTURE : REL

Reliable Energy Ltd.

December 17, 2009 09:25 ET

Reliable Energy Ltd Announces Credit Facility Agreement

CALGARY, ALBERTA--(Marketwire - Dec. 17, 2009) - Reliable Energy Ltd. (the "Company" or "Reliable") (TSX VENTURE:REL) announces that it has entered into a credit facility agreement with a Canadian chartered bank to provide the Company with a $5,000,000 revolving operating loan, a $2,000,000 acquisition/development loan and certain related facilities having an aggregate limit of $150,000. All facilities are payable on demand. The operating line bears interest at Bank prime plus 1.5% p.a. and the acquisition/development loan bears interest at 2.0% p.a. All facilities will be secured by, among other things, a debenture over all the Company's assets.

The credit facility will provide the Company the flexability to effectively develop its Bakken oil play in southeast Saskatchewan and southwest Manitoba.

About Reliable
Reliable is an Alberta based public company listed on the TSX Venture Exchange. The Company has two core areas in the Western Canadian Sedimentary Basin: The focus area consists of a Bakken oil play situated on the Saskatchewan – Manitoba border and has partnered with Crescent Point Energy Corp. to explore and develop the area. The second is a Nisku oil play in central Alberta.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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