DPE Drake Energy Ltd.

Drake Energy Ltd. (TSX VENTURE:DPE) announces the filing of its 2009 year end
reports relating to reserves data and other oil and gas information required
pursuant to section 2.1 of Canadian Securities Administrators' National
Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. Copies of
these reports are available on the SEDAR website at www.sedar.com.


The 2009 year end reserves report and subsequent March, 2010 update were
prepared by Sproule & Associates. The following table summarizes the December
2008, 2009 and March 2010 update reports:




                        ----------------------------------------------------
                                                    Total Proved plus       
                                     Total Proved   Probable                
                        ----------------------------------------------------
                                    000's barrels                           
                             $MM           of oil      $MM 000's barrels of 
                        @10% NPV       equivalent @10% NPV   oil equivalent 
                                                               
                        ----------------------------------------------------
                                                                            
                                                                            
December 31 2008        $   10.4              497 $   15.0              744 
                                                                            
December 31 2009        $    7.7              436 $   11.8              660 
                                                                            
March 31 2010 (Note)    $    9.6              485 $   14.0              755 



Note:

Drake had an update of reserves prepared to March 31 2010 to reflect the impact
of the winter drilling and optimization projects.


Drake Energy Ltd. is active in oil and gas exploration and development in
Alberta. Headquartered in Calgary, Alberta, Canada, the Company is publicly
traded on the Toronto Stock Exchange Venture Board under the stock symbol DPE.V.


This news release contains forward-looking information. Implicit in this
information are assumptions regarding commodity pricing, production, royalties
and expenses that, although considered reasonable by the Company at the time of
preparation, may prove to be incorrect. These forward-looking statements are
based on certain assumptions that involve a number of risks and uncertainties
and are not guarantees of future performance. Actual results could differ
materially as a result of changes in the Company's plans, commodity prices,
equipment availability, general economic, market, regulatory and business
conditions as well as production, development and operating performance and
other risks associated with oil and gas operations. There is no guarantee made
by the Company that the actual results achieved will be the same as those
forecasted herein. Barrel of oil equivalent ("boe") amounts may be misleading,
particularly if used in isolation. A boe conversion ratio has been calculated
using a conversion rate of six thousand cubic feet of natural gas to one barrel
and is based on an energy equivalent conversion method application at the burner
tip and does not necessarily represent an economic value equivalent at the
wellhead.

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