NuLoch Resources Closes $23 Million Equity Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


NuLoch Resources Inc. (TSX VENTURE:NLR.A)(TSX VENTURE:NLR.B) announces that it
has completed the issuance of 15,870,000 special warrants ("Special Warrants")
at a price of $1.45 per Special Warrant resulting in gross proceeds of
$23,011,500. This transaction was previously announced on February 3, 2010 and
includes a fully subscribed over-allotment option totaling 2,070,000 Special
Warrants. The financing was led by Genuity Capital Markets and included
Wellington West Capital Markets Inc. (the "Agents").


Each Special Warrant will entitle the holder thereof to receive one Class A
common share (a "Common Share") of NuLoch on the exercise or deemed exercise of
the Special Warrant. The Special Warrants are exercisable by the holder at any
time and for no additional consideration. All unexercised Special Warrants will
be deemed to be exercised without further action on the part of the holder on
the earlier of the date that is: (a) four months and a day following the
closing, and (b) one business day after the date on which a receipt is issued
for a final prospectus by the securities regulatory authorities in each of the
provinces where the Special Warrants were sold qualifying the Common Shares
issuable upon the exercise of the Special Warrants. NuLoch shall use its
commercially reasonable best efforts to obtain such receipt as soon as
practicable. Until the receipt is issued for such prospectus, the Special
Warrants as well as the Common Shares issuable upon exercise thereof, will be
subject to a four month hold period under applicable Canadian securities laws.


NuLoch intends to use the proceeds of the offering for its capital program with
particular emphasis on development of its properties at Tableland, Saskatchewan
and Divide and Burke counties in North Dakota and for general corporate
purposes.


NuLoch now has 78,472,798 Class A common shares, 15,870,000 Special Warrants,
and 652,500 Class B common shares issued and outstanding.


ADVISORIES

This press release does not constitute an offer of Special Warrants for sale in
the United States. The Special Warrants and Common Shares have not been and will
not be registered under the U.S. Securities Act of 1933, as amended, and may not
be offered or sold in the United States absent registration or an applicable
exemption from registration.


This press release contains forward-looking statements concerning the
anticipated use of proceeds of the offering that depend, in part, on the
existence of certain conditions with respect to the capital expenditure program
of NuLoch, general economic conditions and commodity prices. In each case, the
risk factors that could cause actual results to vary from results expressed or
implied by the forward looking statements contained in this press release are
primarily events beyond NuLoch's control. These forward-looking statements may
prove to be incorrect and undue reliance should not be placed on them. These
forward-looking statements are made as of the date hereof and unless otherwise
required by applicable law, NuLoch disclaims any intention or obligation to
update or revise such forward-looking statements, whether as a result of new
information, future events or otherwise.