Buffalo Resources Year End Reserves

Buffalo Resources Corp. ("Buffalo" or the "Company") (TSX VENTURE:BFR) has
received an independent engineering reserves evaluation from Paddock Lindstrom &
Associates Ltd. ("Paddock"). Paddock's evaluation of Buffalo's petroleum and
natural gas reserves was completed for all of Buffalo's properties effective
December 31, 2007. These estimates were prepared in accordance with National
Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101)
(the "Paddock Report).


The Company Share of Remaining Reserves and Net Present Value Before Income Tax
are presented in the following table.




      Total Company Reserves and Net Present Value Before Income Tax
        Paddock Forecast Prices and Costs as of December 31, 2007

                 Gross
               Company
              Share of
             Remaining
Reserve       Reserves              Company Share of Net Present Value
 Category        (Mboe)                   Before Income Tax ($M)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                0%       5%           10%      15%      20%
                          -------------------------------------------------
                          -------------------------------------------------
Total Proved    10,276    265,433  171,111       134,114  113,290   99,268

Total Proved &
 Probable       15,068    396,212  255,677       196,521  162,395  139,448

The analysis is based upon Paddock's Forecast Prices, effective January 1,
2008. The first five (5) years of the price forecast are shown in the table
below:

                                                Hardisty
                    Edmonton Light  12 degrees API Crude     AECO-C
     WTI Crude Oil       Crude Oil                   Oil        Gas
Year      ($US/bbl)        ($C/bbl)              ($C/bbl) ($C/MMbtu)
--------------------------------------------------------------------
--------------------------------------------------------------------
2008         90.00           88.75                 54.75       6.80
2009         88.00           86.73                 55.73       7.28
2010         82.70           82.70                 54.70       7.43
2011         82.00           80.67                 52.27       7.58
2012         80.00           78.65                 49.84       7.73



Based on the above report Buffalo has calculated its 2007 Finding, Development
and Acquisition cost with changes in future capital to be $10.68/boe for the
proved plus probable category and $17.29/boe for total proved.


The Company has determined its before tax net asset value at December 31, 2007
to be $2.25 per diluted common share using the value of total proven plus
probable reserves discounted at 10% per annum as specified in the Paddock
Report, and the balance sheet values of undeveloped land, seismic data, bank
debt working capital deficit and asset retirement obligations.


Bill Trickett, the Company President and CEO commented, "We are pleased with
these results and considering Buffalo's large inventory of land and undeveloped
plays expect this trend of efficient growth to continue."


Petroleum and natural gas volumes are converted to a common unit of measurement
(Boe) on a basis of six thousand cubic feet (Mcf) of gas to one barrel (Bbl) of
oil. Boes may be misleading, particularly if used in isolation. The foregoing
conversion ratio is based on an energy equivalent conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


This news release contains forward-looking statements which involve known and
unknown risks, delays and uncertainties not under Buffalo's control which may
cause actual results, performance or achievements of Buffalo to be materially
different from the results, performance or expectations implied by these
forward-looking statements. Forward-looking statements such as the estimates of
reserves, are based on the opinions and estimates at the date the statements are
made, and are subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those
anticipated in the forward-looking statements. In addition, there are numerous
uncertainties inherent in estimating reserves, including many factors beyond
Buffalo's control, and no assurance can be given that the indicted level of
reserves or the recovery thereof will be realized. In general, estimates of
reserves are based upon a number of factors and assumptions made as of the date
on which the estimates were determined, such as geological and engineering
estimates which have inherent uncertainties. Further, estimates of net present
value do not represent fair market value. Buffalo undertakes no obligation to
update forward-looking information if circumstances or management's estimates or
opinions should change except as required by law. The reader is cautioned not to
place undue reliance on forward-looking statements.