Bellamont Exploration Ltd., Annual General Meeting, Jun 03, 2010, at 15:00 US Mountain Time. Location: Plaza Room at the Metropolitan Centre, 333 Fourth Avenue S.W., Calgary, Alberta, Canada.

Bellamont Exploration Ltd. said that the company has the financial flexibility to consider acquisitions. The company said, As of the end of February, Bellamont's estimated net debt was $13.7 million, well within its $32 million bank line. Bellamont has financial flexibility to pursue acquisition and exploration opportunities. The Corporation intends to maintain its discipline and concentrate on strategic opportunities that are accretive on cash flow, production, and reserves on a per share basis, while maintaining a strong balance sheet. Bellamont's strategy is to build a low risk reserve, production and cash flow base through acquiring, developing and exploring primarily in the Peace River Arch area of Alberta. Bellamont has a strong technically focused management team that internally generates and develops high quality large resource based prospects. The Company has a drilling inventory of 90 wells. In addition, the Company has compiled an undeveloped land inventory of 102,403 gross acres (67,048 net), of which 79,441 gross acres (56,942 net) is located in the Peace River Arch area of Alberta.

Bellamont Exploration Ltd. announced that it has closed its previously announced plan of arrangement to acquire Standard Energy Inc. The company also announces, in connection with the arrangement, Bellamont is in the process of closing its previously announced $32 million credit facility with the National Bank of Canada. In connection therewith, the Corporation's previous credit facility with Bank of Montreal will been repaid in full.