Orleans Energy Ltd. ("Orleans" or the "Company") (TSX:OEX) today provided information on its oil and gas reserves as of December 31, 2009, as evaluated by the Company's independent reserve engineering firm, Sproule Associates Limited ("Sproule"). The evaluation of Orleans' petroleum and natural gas reserves was conducted pursuant to National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH") reserves definitions.

The Company's 2009 capital activities resulted in the following year-end highlights:

- Notwithstanding the disposition of approximately 2.4 million barrels of oil equivalent ("boe") associated with non-core property dispositions in 2009, Orleans' total proved plus probable oil and gas reserves expanded to approximately 20 million boe, an 11% increase over the 18.0 million boe at December 31, 2008.

- Increased the Company's Montney proved plus probable reserves recognition at Kaybob by 31% to 14.19 million boe, as compared to 10.81 million boe booked at December 31, 2008.

- Executed a strategic capital investment program which resulted in an estimated all-in finding, development and acquisition ("F,D&A") cost of $19.56 per proved plus probable boe. Total F,D&A costs include the change in undiscounted future development costs and approximately $18 million of capital incurred in 2009 associated with the installation of the Kaybob natural gas pipeline project (the "Kaybob K3 Pipeline"), wherein no reserve volumes were assigned with this capital investment. Excluding the Kaybob K3 Pipeline capital expenditure, the Company's estimated proved plus probable F,D&A cost is calculated at $14.06 per boe and $18.10 per proved boe.

- Orleans' production platform is supported by a high-quality, "resource-style" reserves base, weighted 85% natural gas and 15% natural gas liquids and light crude oil, with a reserve life index of 7.5 years (proved) and thirteen years (proved plus probable).

Source:www.financialpost.com