Reece Energy Exploration Corp. announced the acquisition of land in the Bakken formation in southeastern Saskatchewan.

During the past several months, Reece has acquired 15 sections of net land in southeastern Saskatchewan adding to Reece's asset position in that part of the province. They are expecting to drill five to 10 Bakken wells this year, pending reasonable success and stable oil prices

Management believes the acquisitions to be very prospective for the exploration and development of light oil play in the Bakken formation. Reece is planning to spend more than half of its 2008 capital budget on this play.

Reece's board of directors approved a 2008 capital budget of up to $21 million. The budget will be monitored and tailored on a quarterly basis as success and market conditions may dictate.

Reece is prepared to consider acceleration of the Bakken drilling program, upon the achievement of certain benchmarks in early drilling.