Drake Pacific Increases Reserves

Drake Pacific Enterprises Ltd. (TSX VENTURE:DPE) - 

Reserves Increase:

Drake Pacific Enterprises Ltd. ("DPE" or "the Company") announces its year end
reserve evaluation and subsequent March 31, 2009 update, prepared by Sproule
Associates, Martin & Brusset Associates, and AJM Petroleum Consultants. At March
31, 2009 proved plus probable reserves for the company were evaluated at $16.5
million (NPV 10%). The previous year end reserves for Dec 31, 2007 were valued
at $6.2 million, an increase of 155%. Total proved plus probable reserves
increased 171% from 311 Mboe to 843 Mboe.


Operations Update:

Current production is 300 Boed, primarily due to the successful reactivation of
the Sousa production. Production is expected to reach 350 Boed when the
downspacing application is approved to allow simultaneous production from the
13-12 and the new 11-12 well at Sousa. The new 11-12 well at Sousa is expected
to qualify for the new 5% royalty rate. These evaluations include our recently
re-activated production at Sousa.


"Despite recent energy prices and the new government royalty program, the team
at DPE have managed to significantly increase shareholder value and this is well
reflected in our new reserve evaluations and production levels. We believe the
current "uncertain times" hold many opportunities and we are well placed to take
advantage of them." said Drake president, Mr. Roger Penner.


Drake Pacific Enterprises Ltd. is active in oil and gas exploration and
development throughout Alberta and Saskatchewan. Headquartered in Calgary,
Alberta, Canada, the Company is publicly traded on the Toronto Stock Exchange
Venture Board under the stock symbol DPE.V.


This news release contains forward-looking information, Implicit in this
information are assumptions regarding commodity pricing, production , royalties
and expenses that, although considered reasonable by the Company at the time of
preparation, may prove to be incorrect. These forward-looking statements are
based on certain assumptions that involve a number of risks and uncertainties
and are not guarantees of future performance. Actual results could differ
materially as a result of changes in the Company's plans, commodity prices,
equipment availability, general economic, market, regulatory and business
conditions as well as production, development and operating performance and
other risks associated with oil and gas operations. There is no guarantee made
the Company that the actual results achieved will be the same as those
forecasted herein. Barrel of oil equivalent ("boe") amounts may be misleading,
particularly if used in isolation. A boe conversion ratio has been calculated
using a conversion rate of six thousand cubic feet of natural gas to one barrel
and is based on an energy equivalent conversion method application at the burner
tip and does not necessarily represent an economic value equivalent at the
wellhead.