NuLoch Resources Inc. Announces $20 Million Equity Financing

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


NuLoch Resources Inc. ("NuLoch") (www.nuloch.ca) (TSX VENTURE:NLR.A) (TSX
VENTURE:NLR.B) announces that it has entered into an agreement with a syndicate
led by Genuity Capital Markets which has agreed to sell on a commercially
reasonable efforts, private placement basis, 13,800,000 special warrants
("Special Warrants") of NuLoch at a price of $1.45 per Special Warrant, for
aggregate gross proceeds of $20,010,000 (the "Offering"). NuLoch will grant to
the syndicate an over-allotment option, exercisable prior to closing, to
increase the size of the offering by an additional 2,070,000 Special Warrants
issuable at a price of $1.45 for additional gross proceeds of $3,001,500.


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 will be exercisable by the holder at
any time after the closing of the Offering for no additional consideration. All
unexercised Special Warrants will be deemed to be exercised 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 are 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.


The offering is scheduled to close on or about March 3, 2010 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals including the approval of the TSX Venture Exchange and the securities
regulatory authorities.


Upon completion of this financing, and assuming it is fully subscribed, NuLoch
will have approximately 94,342,798 Class A common shares and 652,500 Class B
common shares issued and outstanding.


This press release does not constitute an offer of Special Warrants for sale in
the United States. The Special Warrants 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.


FORWARD LOOKING STATEMENTS

Certain information set forth in this press release contains forward-looking
statements. Specifically, this press release contains forward-looking statements
concerning the anticipated use of proceeds of the Offering and the anticipated
closing of the Offering. The anticipated closing date assumes that prior to that
date, Nuloch will obtain all necessary regulatory approvals. The anticipated use
of proceeds assumes that the Offering will occur as contemplated and assumes the
existence of certain other 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 that preclude Nuloch from
satisfying all applicable pre-conditions and include the risks that the Offering
may not close. 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.