Sabre Gold Mines Corp. press release

Result Energy Inc. Provides Exploration Update; Comments on Recent Alberta Royalty Changes

2007-11-12

TSX - Toronto Stock Exchange · Gold · Silver · Copper · Zinc · Lead · Canada

CALGARY, Nov. 12 /CNW/ - Result Energy Inc ('Result'; TSX-V: RTE) is pleased to provide the following exploration activity update. The Company will also be presenting a corporate review at the 2007 SEPAC Investor Conference in Toronto on November 14, 2007.

Central Alberta Area

In the Windfall area, Result recently completed the drilling and casing of its first well (33.33% net) targeting the Devonian Nisku liquids-rich gas play. This well will be completed and tied in as soon as possible, with an on-stream target date of late December. A second well (28% net) on this project is expected to commence drilling within the next two weeks.

At Modeste, the Company is currently conducting well stimulation and testing operations on one of its recently-drilled Viking gas prospects (60% net). Initial flow rates are encouraging; and well evaluation is ongoing.

At Kakwa, Result has participated in the drilling of a second deep basin style gas prospect (25% net). Six potentially productive zones have been identified in this well. Completion and stimulation operations commenced in early November, and at this time, the Company is cautiously optimistic and expects to comment on aggregate flow rates by year-end.

Peace River Arch Area

At East Eureka, Result has acquired a 100% working interest on a new Triassic oil play. An exploratory test of this prospect is scheduled for the first quarter of 2008.

At Clear Hills North, Result and partners plan to acquire a regional airborne remote sensing survey for Gilwood oil potential prior to year-end 2007. Under the terms of the proposed agreement, Result's partner will bear the full cost of the survey to earn a working interest in certain Company lands and the option to participate in the drilling of Devonian targets within the area of interest.

Saskatchewan Properties

The Company has recently completed the drilling of a nine-well infill program (50% net) at its North Dodsland Viking project. These wells are expected to be completed, stimulated and tied-in before December 1st. Recent reductions in the cost of oilfield services have improved the economics on this shallow gas play.

Northeastern British Columbia

Over the past twelve months, the Company has been quietly building a significant land position on a new deep Devonian gas play in northeastern British Columbia. This play is targeting high- deliverability gas within the Keg River platform of the Horn River basin. Result plans to shoot a major 2-D seismic program over these lands in the first quarter, with a view to drilling the first prospect in late 2008. To date, the Company has acquired more than 23,000 gross acres on this play at a 100% working interest. These lands are also highly prospective for the emerging Muskwa and Evie shale gas play, which is attracting major industry interest. Recent Crown land sales for shale gas mineral rights near Result interest acreage have, in aggregate, totaled more than C$ 325 million, with certain individual bids exceeding $ 2,000 per hectare.

In commenting on the Company's prospect inventory, Mr. Bill Matheson, President, said "We are very pleased with the geographic and geologic diversity of our exploration portfolio. This program provides us with the flexibility to allocate our capital resources to the most attractive projects and jurisdictions".

Alberta Royalty Review

Alberta recently announced proposed changes to the provincial Crown royalty rates which are scheduled to become effective in 2009. Assessing the overall potential impact on the Company's operations is subject to many uncertainties, including a forecast of future well volume levels, the relative mix of Alberta and non-Alberta production, and other factors. Many of Result's Alberta natural gas projects are expected to experience slightly higher royalty rates, yet still yield acceptable economics.

Result intends to mitigate the effect of the proposed changes by directing a greater portion of its post 2007 capital projects towards its existing Saskatchewan and expanding British Columbia properties. In addition, certain Alberta projects may continue to be attractive as Crown land sales, farm-in terms and third party service costs begin to reflect the revised economic realities.

Natural Gas Hedging Program

Result has recently entered into two new natural gas price hedges, both for 1,500 GJ/d. The first hedge is a costless collar with a $6.50 / GJ floor price and an $8.15 / GJ ceiling for the November 2007 to March 2008 period. The Company has also sold forward 1,500 GJ/d at $6.25 / GJ for the November 2007 to October 2008 period.

Result Energy Inc. is a publicly traded Canadian energy company involved in the exploration and development of oil and gas properties in western Canada. Result trades on the TSX Venture Exchange under the symbol "RTE".

The TSX Venture Exchange does not accept responsibility for the adequacy

and accuracy of this release.

Investors are cautioned that this news release contains forward-looking information. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements.

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