SOURCE: Timberlake Energy Solutions Inc.

March 18, 2010 16:05 ET

Timberlake Energy Solutions Inc. Provides Shareholder Update and Confirms 2010 Targets and Goals

OVERLAND PARK, KS--(Marketwire - March 18, 2010) -  Timberlake Energy Solutions Inc. Frankfurt Stock Exchange-Yahoo Symbol (FRANKFURT: T2YA) and (Pink Sheet Symbol): (PINKSHEETS: TLKE), an exploration company focused on purchasing under valued oil and gas leases in the United States is pleased to provide its shareholders with an update and progress report.

Bob Bowersock, President, Timberlake Energy, said, "We are pleased to report that our company has made tremendous growth this past year and we are on target for our 2010 forecast, this new release encapsulates our progress." He also added, "We will continue to pursue profitable cost effective oil and gas opportunities in the upcoming months."

June 2009: We acquired the 168-acre Dickerson Oil Field Lease which consists of 98 wells with an estimated 1.8 million barrels of recoverable oil based on analytical data provided by an independent oil research firm and to date and have reopened several wells in the field.

  • The Burns Oil Lease is now up to full production. The production numbers from the field will be provided in subsequent press releases.
  • Three oil lease properties in Kansas have been acquired. The oil producing lease properties located near the Burns oil lease fields include Demosch, Ferrell and McCauslin with a total acreage of 270 acres and 61 wells.
  • January, 2010: We acquired the 240 acre Rhoton Oil Lease Properties comprising three 80 acre oil properties across from the Dickerson field. Based upon our evaluation of the wells we expect to drill a total of 60 wells on the combined properties.
  • January, 2010: We are currently in negotiations for the purchase of additional oil producing lease properties located in Kansas comprising 62 wells of which 42 require refurbishing. The current production from these wells is approximately 90 barrels of oil per day.
  • Our controlled ownership in the Co2 technology used to regenerate our oil fields is now well into the closing stages. This technology, which has been proven to more than double oil production while reducing carbon emissions, maintains our corporate policy of environmental integrity combined with maximizing oil extraction in a responsible manner.
  • Timberlake uses a geological mapping technique that identifies hidden reserves and will utilize these techniques on the companies acquired properties.

About Timberlake Energy Solutions Inc.

Timberlake Energy Solutions Inc. is an exploration company focused on purchasing abandoned or under valued oil and gas leases in the United States. With an experienced technical team, these oil and gas wells are refurbished and outfitted with the latest in oil and gas recovery equipment. Timberlake Energy Solutions has advanced technology to reclaim and put these wells back into production, hence increasing the well value significantly. Timberlake operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Lambton, and Kent, Counties, Ontario. In addition to its main operating focus, the company is actively exploring projects in the Appalachian and Michigan Basins.

Forward-Looking Statements

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

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