Buffalo Resources Corp.

Buffalo Resources Corp.

July 21, 2009 08:00 ET

Buffalo Resumes Production at Pincher Creek

CALGARY, ALBERTA--(Marketwire - July 21, 2009) - Buffalo Resources Corp. ("Buffalo" or the "Company") (TSX VENTURE:BFR) is pleased to announce that production operations have resumed at its Pincher Creek gas property following an eleven month shut-in during modifications to optimize Shell Canada's Waterton Gas Plant. During start-up of the Waterton plant, Buffalo is restricted to a maximum production rate of 10.5 MMcf/d of raw gas which is equivalent to approximately 5.8 MMcf/d of sales gas and 172 b/d of condensate, or 1,135 boe/d.

Start-up began on Thursday July 16, 2009 and the field is currently producing at the restricted rate of 10.5 MMcf/d from only three of the six productive wells, including Buffalo's new 11-28-004-29W4 horizontal well.

The 11-28 dual leg horizontal well was drilled and completed in June 2008 and was subsequently stimulated using a staged acid fracture treatment, the first stimulation of this type in the Pincher Creek field. At that time, well testing was limited by the shut-in of the Waterton plant and regulatory restrictions on the flaring of natural gas. During the current start-up, the well produced at initial rates of up to 7.75 MMcf/d of raw gas plus condensate.

Bill Trickett, the Company's President and CEO, stated, "The results of the 11-28 horizontal well support our future exploitation plans at Pincher Creek. Buffalo holds a working interest of almost 100% in 42 sections of land, has recently acquired complete 3D seismic coverage over the property, and wells in the field are generally assigned a 50 year reserve life."

Including 1,135 boe/d of production from Pincher Creek, Buffalo's corporate average daily production rate is currently approximately 3,900 boe/d. 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.

Barrels of oil equivalent (Boe's) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf of gas = 1 Bbl of oil is based upon an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Neither the 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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