Buffalo Resources Corp.
TSX VENTURE : BFR

Buffalo Resources Corp.

July 02, 2008 08:30 ET

Buffalo Resources Completes Killam Sale

CALGARY, ALBERTA--(Marketwire - July 2, 2008) - Buffalo Resources Corp. ("Buffalo")(TSX VENTURE:BFR) is pleased to announce that it has completed the sale of its Killam oil property in East Central Alberta as announced by way of press release on June 23, 2008. The sale proceeds were $21.75 million plus a 5% non convertible overriding royalty on 50% of the production of certain natural gas rights.

This transaction allows Buffalo to focus capital expenditures on its core producing properties at Frog Lake and Pincher Creek and strengthens the balance sheet by reducing net debt to less than one year's cash flow.

Buffalo is a Canadian junior oil and gas company engaged in the exploration, development and production of oil and gas reserves in the provinces of Alberta and Saskatchewan.

Certain information set forth in this press release contains forward looking statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, reliance should not be placed on forward-looking statements. Buffalo's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Buffalo will derive therefrom. Buffalo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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