Bucking Horse Energy Inc.

Bucking Horse Energy Inc.

March 18, 2010 17:10 ET

Bucking Horse Energy Inc. Announces Acquisition of Securities Through Settlement of Outstanding Debt

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2010) - Bucking Horse Energy Inc. (the "Company" and "Bucking Horse") (TSX:BUC) announces that it has acquired through its wholly-owned subsidiary Gemini Energy Corp. ("Gemini") 600,000 common shares of XXL Energy Corp. ("XXL"). The acquisition of the 600,000 XXL common shares represents 8.27% of the current issued and outstanding shares of XXL and is the result of a settlement reached with Q Investments Ltd., a TSX Venture Exchange listed company ("Q Investments") respecting a debt owed to the Company by Q Investments since March 4, 2008. The debt due from Q Investments was C$4,045,200 as at June 30, 2009 but was written down to C$1,365,261 on the Company's quarterly financials of that date, in accordance with a business valuation performed by an independent chartered business valuator, who was engaged by Bucking Horse and Q Investments to prepare a comprehensive valuation report on the debt due. Bucking Horse has settled the outstanding debt in full by acceptance of the 600,000 XXL shares.

As a result of the foregoing acquisition Bucking Horse owns, directly or indirectly, a total of 933,700 common shares of XXL representing approximately 12.87% of the current issued and outstanding shares of XXL. Bucking Horse also owns, directly or indirectly, 150,000 share purchase warrants of XXL (the "Warrants") exercisable at a price of US$20.00 per Warrant on or before August 18, 2010. If Bucking Horse were to exercise its 150,000 Warrants in full, the additional 150,000 common shares issued together with its existing 933,700 common shares, would total 1,083,700 common shares of XXL representing approximately 14.64% of the shares of XXL then outstanding, assuming no other common shares had been issued from the date hereof.

The securities acquired will be held for investment purposes. The Company may, depending on market and other conditions, increase or decrease its beneficial ownership of XXL securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This press release is issued pursuant to National Instrument 62-104 which also requires a report filed with the Ontario Securities Commission, the British Columbia Securities Commission and the Alberta Securities Commission containing additional information with respect to the foregoing matters (the "Report").

Bucking Horse Energy Inc. is an independent oil and gas exploration and production company focused in the Pinedale field, within the Green River Basin of southwestern Wyoming. The Common shares of the Company are listed for trading on the Toronto Stock Exchange under the symbol "BUC". More information about Bucking Horse Energy Inc. can be found on its website www.buckinghorseenergy.com.

On behalf of the Board of Directors:

Gordon Nielsen, President

The TSX Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information