March Resources Corp.
TSX VENTURE : MCF

March Resources Corp.

December 20, 2007 09:15 ET

March Resources Corp. Provides Operational Update for the Spud of the Initial Pica Well

CALGARY, ALBERTA--(Marketwire - Dec. 20, 2007) - March Resources Corp. ("March") (TSX VENTURE:MCF) is pleased to provide an update on its operations on the project in Northern Chile. March reports that further to its announcement on October 31, 2007, the rig arrived in the port at Houston and has been loaded on the ship which will deliver the rig to the Chilean port city of Iquique. The ship has departed from Houston and is enroute to Chile. Once the ship has arrived in Iquique, Chile the rig will be loaded on to trucks and moved to the site for the Pica #1 well. It is expected that the rig will be on site in early January.

March has completed all the preliminary work on the well including the setting of conductor pipe on Pica #1. Once the rig arrives on site, it will take approximately ten days for it to be ready to commence drilling of the Pica #1 well. All logistical operations are in place for March to be able to drill the initial well and then move quickly to Pica #2 well. It is anticipated that Pica #1 will be completed within 45 days of the spud date, with results available immediately thereafter.

About March

March is an exploration company which is focusing its resources on two exploration blocks in Northern Chile. The definitive Special Operations Contracts ("SPOC") for each of these areas gives March exclusive oil and gas exploration and development rights. The Pica North and Pica South blocks in the Tamarugal basin consist of a total of 9,500 square kms (approx. 2,500,000 acres). The SPOC outlines the exploration and development rights on the blocks, which are valid for a period of 35 years and detail the work commitments that are required for each of the two blocks.

Safe Harbour

Statements in this press release may contain forward-looking information including expectations of future operations, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

The TSX-Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

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