Wild Stream Exploration Inc. Announces the Closing of Its Bought Deal Financing and Increased Credit Facility

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


Wild Stream Exploration Inc. ("Wild Stream" or the "Company") (TSX VENTURE:WSX)
is pleased to announce it has closed its previously announced bought deal
financing (the "Offering"), through a syndicate of underwriters led by National
Bank Financial Inc. and including Peters & Co. Limited, Paradigm Capital Inc.,
FirstEnergy Capital Corp. and GMP Securities L.P. (collectively the
"Underwriters"). The Offering consisted of 5,170,000 common shares (including
470,000 common shares that were issued pursuant to the exercise of the
Underwriters' over-allotment option, which was exercised in full) issued at a
price of $6.45 for aggregate gross proceeds of $33.3 million.


The net proceeds of the Offering will be used to increase Wild Stream's 2010/11
capital exploration and development program and for general corporate purposes. 


Wild Stream also announces that its lender has increased the Company's credit
facility to $70 million from $50 million. The credit facility is subject to a
review on or before January 31, 2011, at the sole discretion of the lender. As
of October 8, 2010, Wild Stream had approximately $10 million of bank debt
drawn.


WARNING

The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, or any state securities law and may not be
offered or sold in the United States absent registration or applicable exemption
from those registration requirements. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.


FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the use of proceeds of the
Offering. The forward-looking statements contained in this document are based on
certain key expectations and assumptions made by Wild Stream, including
expectations and assumptions concerning the closing of the previously announced
acquisitions, the success of future drilling and development activities, the
performance of existing wells, the performance of new wells and prevailing
commodity prices. Although Wild Stream believes that the expectations and
assumptions on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forwardlooking statements because
Wild Stream can give no assurance that they will prove to be correct.


Since forward-looking statements address future events and conditions, by their
very nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the failure to obtain
necessary regulatory approvals or satisfy the conditions to closing the
transactions, risks associated with the oil and gas industry in general (e.g.,
operational risks in development, exploration and production; delays or changes
in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty of estimates
and projections relating to production, costs and expenses, and health, safety
and environmental risks), commodity price and exchange rate fluctuations and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. Certain of these
risks are set out in more detail in Wild Stream's Annual Information Form which
has been filed on SEDAR and can be accessed at www.sedar.com.


The forward-looking statements contained in this document are made as of the
date hereof and Wild Stream undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.