Bucking Horse Energy Inc. (TSX: BUC) has reported its 2010 proved natural gas reserves. In addition, Bucking Horse noted that it continues work on its 10 well in-fill development program that is ongoing at the company's Mesa property situated in the Pinedale natural gas field in southwest Wyoming.

In 2010, Bucking Horse’s net proved reserves totaled 261 billion cubic feet of natural gas equivalent (Bcfe). Net proved reserves in its primary production area, Wyoming’s Pinedale Anticline, totaled 448 Bcfe.

Operational Activity

In regard to the company’s Pinedale well program, two wells, Mesa 15B1-22D and Mesa 15C2-22D, have been successfully developed and turned to sales with peak 24 hour initial production rates of 6.75 million cubic feet per day (MMcf/d) per well.

Two additional wells, Mesa 14D2-22D and Mesa 11C2-22D, are drilled, cased, and waiting on completion.

A fifth well, Mesa 14B2-22D is drilling ahead approaching total depth.

Bucking Horse owns a 23.12% working interest in the Mesa property under development and expects to invest approximately US$11.3 million to fund its share of the 10 new wells currently underway. An additional 11 wells at Mesa are scheduled for development during the second half of 2011 utilizing a second rig. The additional rig would be positioned at a recently constructed second development pad located northwest of current drilling operations.

The company's current total net production is approximately 8.5 million cubic feet equivalent per day (Mmcfe/d). Development of the 10 Mesa infill wells will increase the Bucking Horse's production to an estimated 11.5 Mmcfe/d by mid-year 2011.

The Mesa infill wells target the prolific Pinedale natural gas field.