Rider Resources Ltd. Announces 2006 Reserves



    CALGARY, March 9 /CNW/ - Rider Resources Ltd. ("RRZ") is pleased to
announce its 2006 year-end reserves as evaluated by Paddock Lindstrom and
Associates ("PLA"), the independent reserves evaluator for all of Rider's oil
and gas properties. Rider plans to announce its audited 2006 financial results
on March 22, 2007, certain financial estimates have been made herein to
facilitate the discussion of the performance of the capital program. Readers
are advised that these financial estimates are subject to audit and may be
amended as necessary.

    Highlights
    ----------

    In 2006 the Company maintained a good recycle ratio despite lower
commodity prices and higher costs in the oil and gas industry. The highlights
are as follows:

    
    -   Rider ended 2006 with proved and probable reserves of 27.0 million
        barrels of oil equivalent
    -   Proved plus probable finding and development costs before future
        development capital in 2006 were $14.94 per barrel of oil equivalent
        before revisions and $18.57 after revisions. With future development
        capital the proved plus probable reserves were $16.63 per barrel of
        oil equivalent before revisions and $20.67 per barrel of oil
        equivalent after revisions. These finding and development costs are
        based on 2006 capital spending of $147.8 million.
    -   The Company's three year finding and development costs were
        $17.89 per proved barrel of oil equivalent and $12.78 per proved plus
        probable barrel of oil equivalent before future development capital.
    -   The Company replaced its 2006 production by a factor of 2.5 after
        revisions.
    -   The recycle ratio in 2006 was 1.6 times on a proved and probable
        basis.
    

    Reserves
    --------

    The following table outlines the Company reserves as at December 31, 2006
as independently evaluated by Paddock Lindstrom & Associates Ltd. ("PLA"). The
following reserves information conforms with the requirements of National
Instrument 51-101 "Standards of Disclosure of Oil and Gas Activities" ("NI
51-101").
    Additional reserve disclosure tables, as required under NI 51-101, will
be contained in the Annual Information Form which will be filed on SEDAR on or
before March 31, 2007. The reserve estimates contained in the following table
are working interest reserves and the Company's royalty interests, and before
the deduction of royalties.

    
    Forecasted Prices and Costs:

    Reserve Volumes
    -------------------------------------------------------------------------
                       Light and               Natural
                          Medium      Heavy        Gas    Natural       2006
                       Crude Oil        Oil    Liquids        Gas        BOE
    -------------------------------------------------------------------------
                          (mbbls)    (mbbls)    (mbbls)     (mmcf)     (mboe)
    -------------------------------------------------------------------------
    Proved
    -------------------------------------------------------------------------
      - Developed
       Producing         1,026.2        5.5    2,278.5   61,908.4   13.628.4
    -------------------------------------------------------------------------
      - Developed
       Non-Producing       100.9          -      484.1   17,263.0    3,462.2
    -------------------------------------------------------------------------
      - Undeveloped            -          -          -       28.5        4.8
    -------------------------------------------------------------------------
    Total Proved         1,127.1        5.5    2,762.6   79,200.0   17,095.2
    -------------------------------------------------------------------------
    Probable               390.0        1.5    1,645.7   47,543.7    9,961.1
    -------------------------------------------------------------------------
    Total Proved Plus
     Probable            1,517.1        7.0    4,408.2  126,743.8   27,056.3
    -------------------------------------------------------------------------
    Note: May not add due to rounding


    Net Present Value of Reserves, Before Income Tax
    -------------------------------------------------------------------------
                                 Discounted Discounted Discounted Discounted
    ($thousands)    Undiscounted      at 5%     at 10%     at 15%     at 20%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Total Proved       569,779.5  437,166.1  360,704.0  310,457.6  274,628.6
    -------------------------------------------------------------------------
    Probable           352,878.5  189,146.7  123,773.7   88,913.6   67,342.0
    -------------------------------------------------------------------------
    Total Proved
     Plus Probable     922,658.0  626,312.8  484,477.7  399,371.2  341,970.5
    -------------------------------------------------------------------------
    Note: May not add due to rounding


    Constant Prices and Costs:

    Reserve Volumes
    -------------------------------------------------------------------------
                       Light and               Natural
                          Medium      Heavy        Gas    Natural       2006
                       Crude Oil        Oil    Liquids        Gas        BOE
    -------------------------------------------------------------------------
                          (mbbls)    (mbbls)    (mbbls)     (mmcf)     (mboe)
    -------------------------------------------------------------------------
    Proved
    -------------------------------------------------------------------------
      - Developed
       Producing         1,026.2        5.5    2,278.2   61,893.6   13,625.6
    -------------------------------------------------------------------------
      - Developed
       Non-Producing       100.9          -      484.7   17,288.8    3,467.1
    -------------------------------------------------------------------------
      - Undeveloped            -          -          -       28.5        4.8
    -------------------------------------------------------------------------
    Total Proved         1,127.3        5.5    2,762.8   79,210.9   17,097.5
    -------------------------------------------------------------------------
    Probable               389.9        1.5    1,645.7   47,520.9    9,957.1
    -------------------------------------------------------------------------
    Total Proved
     Plus Probable       1,517.2        7.0    4,408.5  126,731.8   27,054.6
    -------------------------------------------------------------------------
    Note: May not add due to rounding


    Net Present Value of Reserves , Before Income Tax
    -------------------------------------------------------------------------
                                 Discounted Discounted Discounted Discounted
    ($thousands)    Undiscounted      at 5%     at 10%     at 15%     at 20%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Total Proved       469,212.2  370,149.4  309,887.3  269,027.8  239,318.3
    -------------------------------------------------------------------------
    Probable           245,679.3  143,615.9   96,871.7   70,225.3   53,139.6
    -------------------------------------------------------------------------
    Total Proved
     Plus Probable     714,891.5  513,765.3  406,759.0  339,253.1  292,457.9
    -------------------------------------------------------------------------
    Note: May not add due to rounding


    2006 Finding Costs
    ------------------

    The following table outlines the Company's finding and development cost
for 2006 based on the Forecasted Prices and Cost reserves:

    -------------------------------------------------------------------------
                                                                      Proved
                                                                        Plus
                                                           Proved   Probable
    -------------------------------------------------------------------------
    Reserve additions before revisions (mboe)               6,466      9,891
    -------------------------------------------------------------------------
    Reserve additions after revisions (mboe)                5,045      7,956
    -------------------------------------------------------------------------
    Total capital spending ($ thousands)                  147,767    147,767
    -------------------------------------------------------------------------
    Finding cost before future capital, before
     revisions ($/boe)                                      22.85      14.94
    -------------------------------------------------------------------------
    Finding cost before future capital,
     after revisions ($/boe)                                29.28      18.57
    -------------------------------------------------------------------------
    Finding cost with future capital, before
     revisions ($/boe)                                      23.30      16.63
    -------------------------------------------------------------------------
    Finding costs with future capital, after
     revisions($/boe)                                       29.87      20.67
    -------------------------------------------------------------------------
    Change in future capital ($ thousands)                  2,943     16,717
    -------------------------------------------------------------------------


    Recycle Ratio
    -------------

    The recycle ratio is a measure for evaluating the effectiveness of a
Company's reinvestment program. The ratio measures the efficiency of capital
investment. It accomplishes this by comparing the operating netback per barrel
of oil equivalent to that year's reserve finding and development costs.

    -------------------------------------------------------------------------
                                                                        2006
    -------------------------------------------------------------------------
    Operating netback ($/boe)                                          30.44
    -------------------------------------------------------------------------
    Proved finding cost without future capital,
     after revisions ($/boe)                                           29.28
    -------------------------------------------------------------------------
    Proved recycle ratio                                                 1.0
    -------------------------------------------------------------------------
    Proved plus probable finding cost without
     future capital, after revisions ($/boe)                           18.57
    -------------------------------------------------------------------------
    Proved plus probable recycle ratio                                   1.6
    -------------------------------------------------------------------------
    

    Forward Looking Statements
    --------------------------

    This press release may contain forward-looking statements including
expectations of future production, cash flow and earnings.  These statements
are based on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ from those
anticipated.  These risks include, but are not limited to: the risks
associated with the oil and gas industry (e.g. operational risks in
development, exploration and production; delays or changes in plans with
respect to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty of estimates and projects
relating to production, costs and expenses, and health, safety and
environmental risks), commodity price, price and exchange rate fluctuation and
uncertainties resulting from the potential delays or changes in plans with
respect to exploration or development projects or capital expenditures. 
Additional information on these and other factors that could affect Rider's
operations or financial results are included in Rider's reports on file with
Canadian securities' regulatory authorities.




For further information:

For further information: Craig W. Stewart, President and Chief Executive
Officer, (403) 781-2445; or John W. Ferguson, Vice President, Chief Financial
Officer and Corporate Secretary, (403) 781-2446

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RIDER RESOURCES LTD.

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