Bellatrix Exploration Ltd (Canada) BXEFF

Bellatrix news release

[Robinbrook]

Bellatrix Exploration Ltd. Announces Updated 2010 Capital Expenditures Budget

Press Release Source: Bellatrix Exploration Ltd. On Tuesday January 12, 2010, 4:57 pm

CALGARY,ALBERTA--(Marketwire - Jan. 12, 2010) - Bellatrix Exploration Ltd.("Bellatrix" or the "Corporation") (TSX:BXE - News) is pleased toannounce that it has increased the its 2010 capital expenditures budgetfrom $40 million to $75 million conditional on successful completion ofits previously announced bought-deal public equity financing.

Aspart of the 2010 capital expenditures budget the Corporationanticipates drilling 44 gross wells (27 net wells) and completing 40gross wells (31.6 net wells) primarily in the Pembina and Ferrier areasof Alberta, for an approximate cost of $57.0 million. In addition, theCorporation anticipates spending approximately $4.0 million on land andseismic acquisitions, $6.25 million on well site equipping and fieldfacilities,
.75 million on geological and geophysical expenditures,$3.0 million on optimization and recompletions and $4.0 million onnon-operated joint venture billings.

Bellatrix Exploration Ltd. is a growth oriented exploration and production company based in Calgary, Alberta, Canada.

Forward looking statements:

Certaininformation set forth in this news release, including management'sassessments of the future plans and operations, drilling plans, capitalexpenditures, anticipated budget and potential drilling locations maycontain forward-looking statements, and necessarily involve risks anduncertainties, certain of which are beyond Bellatrix's control,including risks associated with oil and gas exploration, development,exploitation, production, marketing and transportation, loss of marketsand other economic and industry conditions, volatility of commodityprices, currency fluctuations, imprecision of reserve estimates,environmental risks, competition from other producers, inability toretain drilling services, incorrect assessment of value of acquisitionsand failure to realize the benefits therefrom, delays resulting from orinability to obtain required regulatory approvals, the lack ofavailability of qualified personnel or management, stock marketvolatility and ability to access sufficient capital from internal andexternal sources and economic or industry condition changes. Actualresults, performance or achievements could differ materially from thoseexpressed in, or implied by, these forward-looking statements and,accordingly, no assurance can be given that any events anticipated bythe forward-looking statements will transpire or occur, or if any ofthem do so, what benefits that Bellatrix will derive therefrom. Inaddition, there may be circumstances that are not known to Bellatrix atthis time where revisions to expected plans relating to the 2010capital expenditures budget may be advisable for business reasons thatmanagement believes are in the Corporation's best interest.Additionalinformation on these and other factors that could affect Bellatrix areincluded in reports on file with Canadian securities regulatoryauthorities and may be accessed through the SEDAR website(www.sedar.com), at Bellatrix's website www.bellatrixexploration.com).Furthermore, the forward-looking statements contained in this newsrelease are made as of the date of this news release, and Bellatrixdoes not undertake any obligation to update publicly or to revise anyof the included forward looking statements, whether as a result of newinformation, future events or otherwise, except as may be expresslyrequired by applicable securities law.
Contact:

Raymond G. Smith
Bellatrix Exploration Ltd.
President & CEO
[phone]

Edward Brown
Bellatrix Exploration Ltd.
Vice President, Finance & CFO
[phone]

Troy Winsor
Bellatrix Exploration Ltd.
Investor Relations
[phone]
www.bellatrixexploration.com

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