PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN), a 58% owned subsidiary of
Petrobank Energy and Resources Ltd. (TSX:PBG), and Result Energy Inc. ("Result")
(TSX VENTURE:RTE) are pleased to announce the closing today of the acquisition
of Result by PetroBakken.


The acquisition was completed by way of plan of arrangement with 99.43% of
Result shares voted approving the acquisition of Result by PetroBakken.
PetroBakken acquired all of the outstanding shares of Result for total
consideration of approximately $438 million, inclusive of Result's positive
working capital. Result shareholders received $200 million in cash and 11.2
million PetroBakken shares. It is expected that the shares of Result will be
de-listed from the TSX Venture Exchange at the close of business on Tuesday,
April 6, 2010.


PetroBakken Energy Ltd. is a premier light oil production company combining,
high growth, long-life Bakken reserves and production with legacy conventional
light oil assets, delivering industry leading operating netbacks, strong cash
flows and production growth. PetroBakken has a multi-year inventory of Bakken
and light oil development locations, along with significant future development
opportunities in the Horn River and Montney gas resource plays in northeast BC
and the Cardium in Alberta. Our strategy is to deliver accretive production and
reserves growth, along with an attractive dividend yield.
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