SOURCE: Signature Exploration & Production Corp.

March 29, 2010 08:45 ET

Signature Exploration and Production Corp. Estimates $3.87 in Revenues per Share Based on Near-Term Oil and Gas Prospects

HOUSTON, TX--(Marketwire - March 29, 2010) - Signature Exploration and Production Corporation (OTCBB: SXLP), an independent energy company engaged in the exploration, development, exploitation and acquisition of onshore oil and natural gas properties in the U.S., announced today an update on its estimated revenues per share based on two of its near-term oil and gas prospects, Koliba and Kenedy, both located in Texas.

"A recent valuation of our Kenedy and Koliba oil and gas prospects has confirmed our tremendous growth potential. Together, these reserves were valued at $27 million, or $3.87 in revenue per share. Relative to our current stock price, we believe our Company is extremely undervalued," said Steven Weldon, Chairman and CEO of Signature Exploration and Production Corp. Calculations are provided below.


Property        Oil Reserves    Gas Reserves    Dollar Value*

Kenedy               --            50 Bcf        $21,250,000

Koliba          456,198 Bbls     651,880 Mcf      $5,854,486

                Total Estimated  Revenues        $27,104,486

        Common Shares Outstanding (Approx.)        7,000,000

                Estimated revenue per share            $3.87

*The above calculations were based on prices of $81.00 per barrel of oil
 and $4.25 per mcf of gas. These calculations factor in the working
 interest owned by SXLP as follows: Koliba - 15%; Kansas - 90% and
 Kenedy - 10%.

Weldon concluded, "As we begin generating revenues and positive cash flows, we expect our market capitalization can significantly increase to better reflect the value of our Koliba, Kenedy prospects, and other leases presently under agreement."

About Signature Exploration and Production Corp.

Signature Exploration and Production Corp. is an independent energy company engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas along the gulf coast of Texas. Management's strategy is to continue making acquisitions of select properties that have been identified as economically attractive, technically and geologically sound and have significant upside potential. Visit www.signatureexploration.com for more information.

This news release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These statements involve risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are not limited to, the impact of oil and gas prices, the ability to manage growth and acquisitions, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the United States Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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