BELLAMONT EXPLORATION B V.BMX.B

RE: RE: Grande Prairie Montney I oil pool drilling

[newmanator]

'Highlights include the following:

• Successful drilling at Grimshaw and Grande Prairie will add over 425 bbl/d (net) of light oil production to the Corporation before year end;
• Based on its drilling success, Bellamont has increased its year-end production guidance for the third time in 2010.  The Corporation expects to exit the year averaging 2,900 boe/d (45.0% oil and ********NGL's******) for the month of December, exceeding its previous year-end exit guidance of 2,750 boe/d.

SUCCESSFUL LIGHT OIL DRILLING PROGRAM

Grimshaw Montney Oil Pool

The Corporation has successfully drilled and completed another 2 (2 net) horizontal wells in its Montney oil pool discovery in Grimshaw. Based on test results, Bellamont expects to place the wells on production in November at initial rates of approximately 100 bbl/d each, adding 200 bbl/d of light oil (~30°API) production net to Bellamont. The estimated cost to drill, complete and equip these wells is approximately ************$2.0 million per well.********** '

PRETTY DECENT GLTA