Reliable Energy Ltd.

Reliable Energy Ltd.

June 30, 2011 15:40 ET

Reliable Energy Announces Commencement of Drilling in Manitoba and Further Land Acquisitions

CALGARY, ALBERTA--(Marketwire - June 30, 2011) -


Reliable Energy Ltd. ("Reliable" or the "Company") (TSX VENTURE:REL) is pleased to provide the following drilling update.

Manitoba/Saskatchewan – Reliable announces that it will be commencing drilling operations during the week of July 4, 2011 on the balance of its 2011 drilling program that includes the drilling of 10 horizontal wells during Q3 and Q4, 2011. The Company advises that it has secured a contract for a drilling rig until March 31, 2012 and that the Company has received commitments on access to fracing crews during this period, essential to bringing wells on production.

The Company also advises that it has recently acquired over 7,600 (5,700 net) acres of land in Saskatchewan/Manitoba with much of it centered in the middle of its Bakken resource play in the Elkhorn area. This brings total net undeveloped acreage in the area to 90,000 net acres.


Reliable Energy Ltd. is an Alberta based junior oil company with a strong exploration component that commenced operations in 2005. Reliable's activities are primarily focused in the Kirkella area situated on the Saskatchewan/Manitoba border where it holds 90,000 net acres of undeveloped lands. Kirkella is a Bakken oil rich prospect area that possesses high operating margins and multiple formation potential. The Company has an inventory of approximately 200 net horizontal drilling locations with a further 250 net potential locations identified in the Kirkella area. Reliables second focus area is in Blaine County, Montana, where the Company holds nearly 100,000 net undeveloped acres on an emerging Bakken oil play.

Reliable's goal is to become a low cost, value added growth company. The Company's strategy is to concentrate on exploration and development drilling activities in oil rich core areas. Reliable will continue to build on its highly prospective light oil land position in Manitoba /Saskatchewan and Montana and, through prudent development, add to its reserves and production base with the objective of providing sustained future growth and superior returns to shareholders.

Common shares of Reliable Energy Ltd. are listed for trading on the TSX Venture Exchange under the symbol REL.

ADVISORY: This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, the statements in the paragraph titled "Manitoba/Saskatchewan" about the number of wells it expects to drill, access to fracing crews and "About Reliable" are forward-looking statements. Although Reliable believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Reliable can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and Reliable undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of any offer to buy the securities in the United States. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of such Act.

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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