Result announces mailing of the shareholder materials

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CALGARY, March 1 /CNW/ - Result Energy Inc. (TSXV: RTE) is pleased to announce it has obtained an Interim Order of the Court of Queen's Bench of Alberta providing for, among other things, the holding of a meeting of the shareholders of Result ("Result Shareholders") to approve the previously announced arrangement under the Business Corporations Act (Alberta) (the "Arrangement") involving Result, PetroBakken Energy Ltd. ("PetroBakken") and the Result Shareholders.

A special meeting of the Result Shareholders will be held in respect of the Arrangement in the Riverview Room at the International Hotel, 220 - 4 Avenue Southwest, Calgary, Alberta, on Monday March 29, 2010 at 9:00 a.m. (Calgary Time). Result is mailing the Information Circular and Proxy Statement respecting the meeting to the Result Shareholders which will also be available for viewing electronically under Result's profile on SEDAR at www.sedar.com.

Pursuant to the Arrangement, PetroBakken will acquire all of the issued and outstanding common shares of Result in exchange for, at the election of the Result Shareholders, (a) $0.42 in cash, or (b) 0.013023 of a PetroBakken share, or (c) a combination thereof for each Result share held. The final consideration received by each Result shareholder is subject to proration such that $200 million in cash is paid to Result shareholders in aggregate.

Completion of the Arrangement is subject to certain conditions, including the approval of the Result Shareholders, the final approval of the Court of Queen's Bench of Alberta and receipt of all applicable regulatory approvals. If all necessary approvals are obtained and the conditions to the completion of the Arrangement are satisfied or waived, Result anticipates that the Arrangement will become effective on or about April 1, 2010.

Macquarie Capital Markets Canada Ltd. has provided the Board of Directors of Result with a written opinion that, as at January 27, 2010, it is of the opinion that the consideration to be received by Result Shareholders under the Arrangement is fair, from a financial point of view, to the Result Shareholders.

Result's Board of Directors has unanimously determined that the Arrangement is in the best interests of Result and is fair to the Result Shareholders. The Board of Directors unanimously recommends that the Result Shareholders vote to approve the Arrangement at the shareholders' meeting.

FORWARD LOOKING INFORMATION

Certain statements included in this press release constitute forward-looking statements under applicable securities legislation. More particularly, this press release contains a statement concerning the anticipated date for the completion of the Arrangement. This completion date relies on certain assumptions that Result believes are reasonable at this time, including assumptions as to the timing of receipt of the necessary shareholder approval, regulatory and court approvals and the necessary conditions to the completion of the Arrangement. These dates may change for a number of reasons, including the inability to secure necessary shareholder, regulatory or court approvals in the time needed or the need for additional time to satisfy the conditions of the Arrangement. The Arrangement may be completed later then stated or not at all.

Such forward-looking statements are based on a number of assumptions which may prove to be incorrect. Although Result believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Result can give no assurance that such expectations will prove to be correct. The forward looking statements contained in this press release are made as of the date hereof and Result undertakes no obligation to update publicly or revise any forward looking statement or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

NEITHER THE 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: Brett Herman, President & CEO, Result Energy Inc., Telephone: [phone]; Jason Zabinsky, Vice-President, Finance & CFO, Result Energy Inc., Telephone: [phone]