NuLoch Resources Expands Borrowing Capacity

NuLoch Resources Inc. (TSX VENTURE:NLR)(OTCQX:NULCF) (NuLoch or the Company) has
expanded the borrowing base in respect of its $14 million demand revolving
operating credit facility with a Canadian chartered bank. The line is now
established at $25 million and is currently undrawn. In addition to this
expanded facility, NuLoch has existing cash balances in excess of $14 million.
To assist the bank in their assessment of the borrowing base, NuLoch provided an
independent interim reserve report with a September 30, 2010 effective date that
evaluated its Saskatchewan and North Dakota petroleum properties.


Glenn Dawson, NuLoch's President and CEO said, "The interim reserve report
demonstrates that NuLoch has delivered significant reserves growth in
Saskatchewan and North Dakota with 3.7 million barrels of oil equivalent (MMboe)
proved and 6.4 MMboe on a proved plus probable basis. The expanded line of
credit will enhance the strength in our balance sheet as we proceed with our
development program in the Williston Basin."


NuLoch commissioned AJM Petroleum Consultants (AJM), its independent petroleum
engineers, to prepare a report of the Company's Williston Basin petroleum
reserves with an effective date of September 30, 2010. The properties were
evaluated in accordance with NI 51-101. The Company's Alberta assets were not
included in this evaluation.


Estimates of reserves of petroleum and natural gas and associated future net
revenues as at September 30, 2010 arising solely from its Williston Basin
properties in Saskatchewan and North Dakota (and excluding Alberta) are
presented below.




                                                          Future Net
                                Company Gross               Revenue
                                Reserves(1)(2)         Before Tax(1)(3)
----------------------------- ---------------------   -----------------
                              Light &    Nat-
                               Medium   ural              ($ millions)
                                  Oil    Gas  Total      Discount Rate
Reserves Category                Mbbl   MMcf   Mboe      0%   10%   15%
                                ----- ------ ------   ----- ----- -----
SASKATCHEWAN (C$)
----------------------------- ---------------------   -----------------
Proved
 Developed Producing              314     -     314   20.5   9.9   7.7
 Developed Non-producing            -     -      -       -     -     -
 Undeveloped                    1,094     -   1,094   63.0  20.0  12.0
                                ----- ------ ------  ------ ----- -----
Total Proved                    1,408     -   1,408   83.4  29.9  19.7
Probable                        1,136     -   1,136  107.1  21.9  13.2
                                ----- ------ ------  ------ ----- -----
Total Proved plus Probable      2,544     -   2,544  190.5  51.8  32.9
                                ----- ------ ------  ------ ----- -----
                                ----- ------ ------  ------ ----- -----

NORTH DAKOTA  (US$)
----------------------------- ---------------------   -----------------
Proved
 Developed Producing              347     38    354   19.3  10.9   9.2
 Developed Non-producing           62      -     62    3.2   1.5   1.1
 Undeveloped                    1,884      -  1,884   75.6  18.1   8.3
                                ----- ------ ------  ------ ----- -----
Total Proved                    2,293     38  2,299   98.1  30.5  18.6
Probable                        1,544     31  1,549  114.9  21.9  12.3
                                ----- ------ ------  ------ ----- -----
Total Proved plus Probable      3,837     69  3,849  213.1  52.4  30.9
                                ----- ------ ------  ------ ----- -----
                                ----- ------ ------  ------ ----- -----

TOTAL FOR SASKATCHEWAN AND
  NORTH DAKOTA(3)
----------------------------- ---------------------
Proved
 Developed Producing              661     38    668
 Developed Non-producing           62      -     62
 Undeveloped                    2,978      -  2,978
                                ----- ------ ------
Total Proved                    3,701     38  3,707
Probable                        2,680     31  2,685
                                ----- ------ ------
Total Proved and Probable       6,381     69  6,393
                                ----- ------ ------
                                ----- ------ ------
(1) Columns and rows may not add due to rounding.
(2) Six mcf of natural gas is considered equivalent to 1 barrel of oil (see
    Advisories).
(3) Future net revenues do not represent fair market value.
(4) Future net revenues for Canadian and United States properties are not
    added together because each property was evaluated using its functional
    currency.



Future Development Costs

The following table sets forth the future development costs which have been
deducted in determining future net revenue attributable to the reserves
categories noted below.




Future Development Costs
----------------------------------------------------------------------------
                                           Forecast Prices and Costs
                                                  (millions)
                                  ------------------------------------------
                                      Saskatchewan C$      North Dakota US$
                                  --------------------   -------------------
                                               Proved                 Proved
                                                 plus                   plus
Year                               Proved    Probable     Proved    Probable
------------------------------    --------   ---------   --------   --------
2010 Q4                               5.0         7.3        5.2         6.8
2011                                 21.9        25.5       26.5        31.8
2012                                  2.4         6.2       12.8        18.1
Remaining                               -           -          -           -
------------------------------    --------   ---------    -------   --------
Total (undiscounted)                 29.3        39.0       44.5        56.7
                                  --------   ---------    -------   --------
                                  --------   ---------    -------   --------



Future prices used in the forecast of net revenue are based on those estimated
by AJM as at September 30, 2010. The first five years of forecast prices for
certain benchmarks are summarized below:




Five-Year Forecast of Future Prices
---------------------------------------------------------
                                         Oil         Oil
                                         WTI    Edmonton
Year                                ($US/bbl)  ($CDN/bbl)
----                                ---------  ----------

2010 Q4                                80.00       80.20
2011                                   85.15       85.50
2012                                   88.45       90.65
2013                                   92.85       95.30
2014                                   97.40      100.05
2015                                  104.90      107.85



ADVISORIES

Reserves Disclosure

Reserves information presented relates to NuLoch's working interest share of
reserves and present values as at September 30, 2010. The reserves are reported
using AJM's forecast prices and costs. Complete reserves disclosure will be
included in the Company's Form 51-101F1 filing for the year ended December 31,
2010. The reserves definitions used in this document are consistent with the
Company's last NI 51-101 annual reserves filing included in its Annual
Information Form posted on SEDAR on April 30, 2010 (the AIF).


The Company gross reserves on a proved plus probable basis for Canada as a
whole, as at December 31, 2009, as reported in NuLoch's AIF, was 2,783 Mboe and
the present value of the associated future net revenue was C$31.9 million on a
before tax basis using a 10% discount factor. The Company gross reserves on a
proved plus probable basis for the United States as at December 31, 2009, as
reported in NuLoch's AIF, was 672 Mboe and the present value of the associated
future net revenue was US$7.9 million (C$8.3 million) on a before tax basis
using a 10% discount factor. The AJM Report prepared with an effective date of
September 30, 2010 did not evaluate all properties of NuLoch. The estimates of
resources for individual properties may not reflect the same confidence level as
estimates of resources for all properties, due to the effects of aggregation.


Use of Barrels of Oil Equivalent (boe)

Disclosure provided herein in respect of boe units may be misleading,
particularly if used in isolation. A boe conversion ratio of 6 mcf of natural
gas to 1 bbl of crude oil is based on an energy equivalency conversion method
primarily applicable at the burner tip and may not represent a value equivalency
at the wellhead.


Use of Estimates

The net present value of future net revenue attributable to the Company's
reserves is stated without provision for interest costs and general and
administrative costs, but after providing for estimated royalties, production
costs, development costs, other income, future capital expenditures, and well
abandonment costs for only those wells assigned reserves by AJM. The estimates
of reserves and future net revenue for individual properties may not reflect the
same confidence level as estimates of reserves and future net revenue for all
properties, due to effects of aggregation. Actual recoveries may be greater than
or less than the estimates provided herein and there is no guarantee that the
estimated reserves will be recovered. It should not be assumed that the values
of future net revenue attributable to the Company\'s reserves represent the fair
market value of those reserves.


Forward-Looking Statements

Certain statements in this document or incorporated herein by reference
constitute "forward-looking statements". These forward-looking statements can
generally be identified as such because of the context of the statements,
including words indicating that the Company "believes", "anticipates",
"expects", "plans" or words of a similar nature. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company, or industry
results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
factors include, among others, the following: general economic and business
conditions which will, among other things, impact demand for and market prices
of the Company's products; industry capacity; the ability of the Company to
implement its business strategy, including exploration and development
activities; the ability of the Company to complete its capital programs;
successful negotiations with bankers and other third parties; the success of
exploration and development activities; production levels; government
regulations and the expenditures required to comply with them (especially safety
and environmental laws and regulations); asset retirement obligations; and other
circumstances affecting revenues and expenses.


Class A common shares outstanding: 122,332,907