Reliable Energy Ltd. Increases Bought Deal Financing to $15 Million

Reliable Energy Ltd. (TSX VENTURE:REL) reported that as part of the bought deal financing agreement announced on May 12, 2010 with a syndicate of underwriters led by Raymond James Ltd. and including Canaccord Genuity Corp., Acumen Capital Partners and Clarus Securities Inc. the Company has increased the size of the special warrants offering to approximately $9.0 million.

The press release is quoted as saying:

Reliable Energy Ltd. is an Alberta based junior oil and gas exploration and production company that commenced operations in 2005. Reliable’s activities are primarily focused in the Kirkella area situated on the Saskatchewan/Manitoba border. Kirkella is a Bakken oil rich prospect area that possesses high operating margins and multiple formation potential, while cost effective high impact exploration yields significant low risk exploitation and development opportunities.

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