2010-03-11-2010-01-18

To acquire assets in SW Saskatchewan, gaining 760,000 2P, 180 BO/d.

Wild Stream Exploration Inc., Calgary, (Toronto Venture: WSX) plans to acquire properties in Saskatchewan from an undisclosed seller for C$13.5 million.

The 4,800 net acres to be acquired are in the Eastend and Dodsland areas of southwestern Saskatchewan and complement Wild Stream's land holdings in the Lower Shaunavon and Dodsland areas.

The assets contain proved plus probable reserves of approximately 760,000 barrels (100% oil) with a reserve life index of 11.6 years. Production from the 7.5 net sections of land is approximately 180 barrels of oil per day. Wild Stream says there are 30 net drilling locations (19 Lower Shaunavon, 11 Viking).

Pro forma the transaction, Wild Stream will have production of approximately 1,200 barrels of oil per day (90% oil) and proven plus probable reserves of approximately 5.8 million barrels of oil equivalent. The acquisitions increase Wild Stream's inventory to 300 wells.

In conjunction with the acquisition, Wild Stream has entered into a bought deal financing agreement with a syndicate of underwriters led by National Bank Financial Inc. and including Paradigm Capital Inc., FirstEnergy Capital Corp. and GMPSecurities LP. Approximately 5.3 million common Wild Stream shares will be purchased at C$4.95 per share for resale to the public.

Proceeds of C$26.2 million will be used for the acquisitions and to fund ongoing exploration and development and general corporate purposes.