Relentless Resources Ltd.
TSX VENTURE : RRL

Relentless Resources Ltd.

April 27, 2012 19:20 ET

Relentless Resources Announces Filing of 2011 Year End Results and Annual Shareholder Meeting

CALGARY, ALBERTA--(Marketwire - April 27, 2012) - Relentless Resources Ltd. (TSX VENTURE:RRL) ("Relentless" or "the Company") announces that it has filed its audited annual financial statements for the year ended December 31, 2011, the accompanying management's discussion and analysis, and the reports relating to reserves data and other oil and gas information, for the year ended December 31, 2011 (Forms 51-101F1, F2 and F3), as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). All these filings are available on SEDAR under the profile of Relentless at www.sedar.com.

Relentless also announces that the Relentless Loverna HZ 4C15-6-2C13-6-31-28 W3M well, the second horizontal well drilled on Relentless lands, is now on production. The first horizontal well, which was drilled and completed in the first and second quarters of 2011, is currently producing approximately 30 barrels of oil per day. Total Company production is approximately 45 to 50 barrels of oil and NGL's per day and 200 thousand cubic feet per day of natural gas, representing, in aggregate, approximately 78 to 83 boes per day.

Although disappointed by the second wells' results, Relentless is very encouraged by the overall results of the Loverna Viking property. Relentless has three additional licensed horizontal drilling locations and a minimum of eight unlicensed drilling locations identified to develop the lands with a drilling density of eight horizontal wells per section.

Relentless acquired 100 percent working interest in the Viking petroleum and natural gas rights on 518 ha (1,280 acres) of contiguous lands in the Loverna area of Saskatchewan in November of 2010.

Annual General and Special Meeting

The Company also announces it has scheduled its annual general and special meeting of shareholders for Wednesday, May 30, 2012, in the Rocky Mountain Room on the 10th Floor, Livingston Place, West Tower, 250 - 2nd Street S.W., Calgary, Alberta at 2:00 p.m. MDT. Shareholders are encouraged to attend and participate in the business of the meeting.

About Relentless Resources Ltd.

Relentless is a Calgary based emerging oil and natural gas company, engaged in the exploration, development, acquisition and production of natural gas and light gravity crude oil reserves in Alberta and Saskatchewan. Relentless' common shares trade on the TSX Venture Exchange under the symbol RRL.

Relentless' primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management.

Reader Advisory

This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking statements") under the meaning of applicable securities laws, including Canadian Securities Administrators' National Instrument 51-102 - Continuous Disclosure Obligations. The use of the words "intended", "outlook", "expected", "potential", "will" and "planned" identify these forward-looking statements.

The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Relentless including, without limitation, assumptions relating to the ability of Relentless will continue to fund or conduct its operations in a manner consistent with past operations and the general continuance of current or, where applicable, assumed operational and industry conditions. Relentless believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.

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

Neither 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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