BENCHMARK ENERGY CORP. - SHAREHOLDERS APPROVE NAME CHANGE AND NEW BOARD OF
DIRECTORS

CALGARY, Oct. 25 /CNW/ - Benchmark Energy Corp. ("Benchmark" or the "Company"), is pleased to announce that all of the resolutions put forth at its Annual General and Special Meeting of Shareholders held on October 25, 2010 have been approved. In addition to the standard annual shareholder resolutions which include the approval of the rolling stock option plan and the appointment of Deloitte & Touche LLP, Chartered Accountants, further resolutions were put forth and approved at the meeting, and are described in more detail below.

The election of the Company's Board of Directors was passed:

• Steven VanSickle - Chairman. Steven currently serves as President and Chief Executive Officer of Fairborne Energy Ltd.
• Greg Bay - Founding partner, President and Chief Executive Officer of Cypress Capital Management.
• Keith Brown - President of Blomidon Resources Ltd., a company offering consulting services in oil and gas reserves management.
• John Moreland - Current President and Chief Executive Officer of Benchmark Energy Corp.
• David Robinson - Former President and Chief Executive Officer of the Company; and a founder, President, and director of RadCan Energy Services Inc.

Benchmark is very pleased to have such an experienced and diversified group leading the Company going forward.

The Company also received shareholder approval at the meeting to file articles of amendment to (i) change the name of the company to Bolivar Energy Corp.; and (ii.) change the trading symbol on the TSX Venture Exchange to BVR. The changes to the name and trading symbol were previously approved by the Board of Directors who feel it is in the best interests of the Company since the amalgamation transaction of the Company's wholly-owned subsidiary with Bolivar Energy Inc., closed on September 17, 2010. The Company has also submitted an application regarding the name and symbol change to the TSX Venture Exchange. Approval is expected to be issued following submission of evidence of shareholder approval. A further news release will be issued when the Company has confirmation of the date trading under the new name and symbol will commence.

At the meeting, shareholders also approved an amendment to By-Law No.2 to change the financial year-end of the Company from June 30^th to December 31^st in each year, and to add this amendment to the by-laws. 

Benchmark Energy Corp. is an early stage exploration and production company active in the Llanos Basin in Colombia.

Forward-Looking Statement

This news release includes forward-looking statements. When used in this document, words such as "expect" and similar expressions identify forward-looking statements.  The forward-looking statements, contained in this document are solely opinions and forecasts which are uncertain and subject to risks. A multitude of factors can cause actual events to differ significantly from any anticipated development and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Neither the Company nor any of its subsidiaries nor any of its officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments.

%SEDAR: 00007744E

For further information:

Benchmark Energy Corp.
John Moreland
President and Chief Executive Officer
Telephone: [phone]
Email: [email protected]

Benchmark Energy Corp.
Peter Argiris
Chief Financial Officer
Telephone: [phone]
Email: [email protected]