Rock Creek Resources Ltd.

Rock Creek Resources Ltd.

March 23, 2005 16:01 ET

Rock Creek Updates Drilling Activity


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ROCK CREEK RESOURCES LTD.

TSX VENTURE SYMBOL: RCR.A
TSX VENTURE SYMBOL: RCR.B

MARCH 23, 2005 - 16:01 ET

Rock Creek Updates Drilling Activity

CALGARY, ALBERTA--(CCNMatthews - March 23, 2005) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.

Rock Creek Resources Ltd. (TSX VENTURE:RCR.A) (TSX VENTURE:RCR.B) ("Rock
Creek" or the "Company") announced today an update to recent drilling
activity. The previously announced expanded exploration drilling program
at its Gift core property has been completed with 100% success,
resulting in the discovery of five new light oil pools.

As operator, Rock Creek drilled and cased 5 (2.4 net) exploration wells
as potential oil wells in the Gilwood formation. Currently, one well is
tied-in and producing approximately 190 (90 net) bbls/d of light oil.
The remaining four wells have been completed and are expected to be
tied-in over the next two weeks. Total new production is anticipated to
be approximately 600-700 (300-350 net) bbls/d commencing in April. This
new production will realize high netbacks due to the high prices
received for the light oil production (42 API) combined with Crown
royalty free status for up to one year. Four to six (2.0-3.0 net)
additional locations have been identified by existing 3D seismic on Rock
Creek lands. Also, the Company has recently completed shooting a ten
square mile 3D seismic program in the area to delineate future
exploration prospects.

At Jackfish Lake, the Company has completed shooting and interpreting a
four square mile 3D seismic program and subject to rig availability Rock
Creek plans to drill two natural gas exploration wells (100% W.I.) over
the next several weeks. Other first quarter activity included drilling
at Clarke Lake, British Columbia (7% working interest) where operations
on one development well and one re-entry well were suspended due to
weather and access concerns at this winter only area. Total drilling for
the first quarter is expected to total 10 (4.7 net) wells.

Rock Creek's current production is approximately 1,000 boe/d, consisting
of 600 bbls/d light crude oil and 2,400 mcf/d natural gas. As a result
of the very successful drilling program at Gift, the Company will review
the 2005 capital budget and production guidance once the Gift wells are
on production and the status of our drilling program at Jackfish Lake is
known. Year-end financial information for 2004 is expected to be
announced by April 11, 2005. Further information can be found on our
newly revised webpage at www.rockcreek.ca

Rock Creek is an emerging junior oil and gas exploration and production
company operating in western Canada. Rock Creek's Class A and Class B
shares trade on the TSX Venture Exchange under the symbols "RCR.A" and
"RCR.B", respectively.

Reader Advisory

Information contained herein may include forward-looking statements
including opinions, assumptions, estimates and expectations of future
production, cash flow and earnings. When used in this document, the
words "anticipate," "believe," "estimate," "expect," "intent," "may,"
"project," "plan", "should" and similar expressions are intended to be
among the expressions that identify forward-looking statements.
Forward-looking statements are subject to a wide range of risks and
uncertainties. Although the Company believes that the expectations
represented by such forward-looking statements are reasonable, there can
be no assurance that such expectations will be realized.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Rock Creek Resources Ltd.
    Mickey D. Taylor
    President & Chief Executive Officer
    (403) 537-1132 or Toll Free 1-866-289-8564
    (403) 537-1138 (FAX)
    Website: www.rockcreek.ca
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.