Company Information for Resaca Exploitation Inc

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AIM; RSOX

Company Statement

Resaca Exploitation, Inc. is an independent oil and gas exploitation company headquartered in Houston, Texas.

The company was formed in 2006 to exploit a number of oil and gas properties in the Permian Basin of the United States. Resaca was admitted for trading to the AIM market of the London stock exchange on 17 July 2008.

Operations and Technology

Resaca was formed in March 2006 by Torch and a group of private investors to acquire and exploit a number of oil and gas properties in the Permian Basin. The Permian Basin, one of the largest and most prolific oil and natural gas producing basins in the United States, extends over 100,000 square miles of West Texas and Southeast New Mexico and has produced over 24 billion bbls of oil since its discovery in the early 1920s. The Permian Basin is characterised by oil and natural gas fields with long production histories and multiple producing formations. Resaca’s producing properties in the Permian Basin are mature fields with established decline curves. The Directors believe that Resaca’s Primary Properties are readily exploitable through secondary and tertiary recovery.

The Properties are located in West Texas and Southeast New Mexico on the Central Basin Platform of the Permian Basin and consist of approximately 15,000 gross/14,000 net acres contained in three main field complexes and a group of minor fields. The Company’s primary fields, which contain 89 per cent. of Resaca’s current proved and probable reserves, are the Cooper Jal Unit in Lea County, New Mexico; the Penwell Complex in Ector and Crane Counties, Texas; and the Grand Clearfork Unit in Pecos County, Texas (the “Primary Properties”).

These Properties are located in the Permian Basin of West Texas and Southeast New Mexico. The Company routinely evaluates, and may acquire, further exploitation opportunities in the Permian Basin, other US basins and in areas outside the US and will continue to do so following Admission. Through its relationship with Torch Energy Advisors Incorporated, a privately owned, Houston-based company, Resaca has access to an experienced team with a long and successful history of owning and operating oil and gas projects, having been responsible for the investment and management of over US$3 billion in the energy industry.

Board of Directors and Key Management

Executive Chairman	James Perry (JP) Bryan Jr.
Chief Executive Officer	John J. (Jay) Lendrum III
Non-Executive Director	John Bentley
Non-Executive Director	Judy Ley Allen
Non-Executive Director	R. Kelly Plato

Company Address

1331 Lamar
Suite 1450
Houston, United States 77101


Telephone:	+44 (0) 207 466 5117
Email:	lendrumj[at]resacaexploitation.com
Website:	http://www.resacaexploitation.com

Additional Address/Key Contact

Investor Relations

Buchanan Communications

Tel: 44 (0) 20 7466 5000

Capital

Total Fully Diluted Shares Outstanding 98,121,041;100.0%

Major Shareholders

Significant Shareholders	No of Shares	% Outstanding	% Fully Diluted

James Perry (

Most Recent Statement

22/07/10 - Termination of merger agreement
12/07/10 - Cano merger update
08/06/10 - Common Stock Offering
02/06/10 - Posting of shareholder documents relating to merger with Cano Petroleum Inc.
01/04/10 - Change in trading currency
16/03/10 - Interim Results

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