Result Energy Inc. Provides Update on Sale of Assets



    CALGARY, Aug. 17 /CNW/ - Result Energy Inc. ("Result" - TSX-V: RTE)
advises that its previously announced sale of assets (see News Release dated
May 20, 2009) was not completed as originally scheduled. Despite several
extensions and accommodations by Result, the purchaser could not meet its
closing obligations and among other things, Result has retained the
purchaser's deposit of $1.2 million as liquidated damages arising from the
purchaser's default. Result is conducting a strategic review of its assets and
operations and will be exploring all of its available options. As part of this
review process, the Company is also seeking a further short-term extension of
its existing $8.5 million banking facilities, which currently bear interest at
an average rate of prime plus 3.23%.

    Result Energy Inc. is a publicly traded Canadian energy company involved
in the exploration and development of oil and gas properties in western
Canada. Result trades on the TSX Venture Exchange under the symbol "RTE".

    Investors are cautioned that this news release contains forward looking
information. Such information is subject to known and unknown risks,
uncertainties and other factors that could influence actual results or events
and cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers are
cautioned not to place undue reliance on forward-looking information, as no
assurances can be given as to future results, levels of activity or
achievements.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: William Matheson, President & CEO, Result
Energy Inc., (403) 777-0007

Organization Profile

RESULT ENERGY INC.

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