NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


Reliable Energy Ltd. ("Reliable" or the "Company") (TSX VENTURE:REL) is pleased
to announce that it has entered into an arrangement agreement (the "Agreement")
whereby Crescent Point Energy Corp. ("Crescent Point") will acquire all of the
issued and outstanding common shares of Reliable not already held by Crescent
Point in a transaction valued at approximately $99.1 million, including net debt
of $20 million at March 14, 2012 (the "Arrangement"). Under the terms of the
Arrangement, each common share of Reliable shall be exchanged for 0.00794 common
shares of Crescent Point. Reliable shareholders will receive an aggregate value
of $0.362 per common share of Reliable based on a five-day weighted average
trading price per Crescent Point share of $45.61 which represents a premium of
19 percent to the closing price of Reliable common shares on the TSX Venture
Exchange as at March 14, 2012. The Arrangement is expected to be tax-deferred
for Canadian resident shareholders of Reliable.


Reliable's Board of Directors and management view this as an advantageous
transaction for Reliable's shareholders. It is anticipated that existing
Reliable shareholders will receive value for the Company through the
diversification and liquidity of the large oil portfolio provided by Crescent
Point, as well as access to an anticipated monthly dividend stream.


Board of Directors Recommendation and Financial Advisors

Reliable's Board of Directors has unanimously approved the Agreement, determined
that the Arrangement is in the best interests of Reliable and is fair to the
Reliable shareholders and resolved to recommend that Reliable shareholders vote
in favour of the Arrangement.


Canaccord Genuity Corp. ("Canaccord") is acting as exclusive financial advisor
to Reliable with respect to the Arrangement. Each of Canaccord and Raymond James
Ltd. ("RJ") has provided the Board of Directors of Reliable with its opinion
that the consideration to be paid by Crescent Point pursuant to the terms of the
Agreement is fair, from a financial point of view, to Reliable shareholders. 


The Agreement provides that Reliable will pay Crescent Point a non-completion
fee of $4 million, in certain circumstances and that a reciprocal non-completion
fee will be payable by Crescent Point to Reliable in certain circumstances. The
Agreement also provides for customary non-solicitation covenants, including that
Reliable has the right to respond to superior proposals and that Crescent Point
has the right to match any such proposal.


All of the directors and officers exercising control or direction over
approximately 10.4% of Reliable's fully diluted shares have agreed to vote their
shares in favour of the Arrangement. 


The Arrangement is subject to stock exchange, court and regulatory approval, and
the approval of at least 66 2/3 percent of Reliable shareholders who vote at a
meeting to be called to vote on the Arrangement.


It is expected that a management information circular and proxy statement
detailing the Arrangement and including the written fairness opinion of RJ will
be sent to Reliable's shareholders on or before April 4, 2012, with a
shareholder meeting scheduled to occur on May 1, 2012. 


ABOUT RELIABLE

Reliable Energy Ltd. is an Alberta based junior oil company whose activities are
primarily focused in the Kirkella area situated on the Saskatchewan/Manitoba
border.


Common shares of Reliable Energy Ltd. are listed for trading on the TSX Venture
Exchange under the symbol REL.


FORWARD-LOOKING INFORMATION AND STATEMENTS ADVISORY: This press release contains
certain forward-looking information and statements within the meaning of
applicable securities laws. The use of any of the words "expect", "anticipate",
"continue", "estimate", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify forward-looking
information or statements. In particular, but without limiting the foregoing,
this press release contains forward-looking information and statements
concerning the anticipated benefits of the Arrangement, the receipt of a written
fairness opinion relating to the Arrangement, the timing of the mailing of the
information circular and the timing of the shareholder meeting. These
forward-looking statements are based on certain key expectations and assumptions
made by Reliable, including expectations and assumptions that, in respect of the
anticipated benefits of the Arrangement, Crescent Point will continue to
maintain a large and diverse asset portfolio and pay monthly dividends; in
respect of the receipt of a written fairness opinion relating to the
Arrangement, RJ will not materially amend or modify its financial analysis of
the Arrangement; and in respect of the timing of the mailing of the information
circular and the timing of the shareholder meeting, the parties will be able to
prepare and mail the management information circular and proxy statement within
the applicable time periods. Although Reliable believes that the expectations
and assumptions reflected in these forward-looking statements are reasonable,
undue reliance should not be placed on them because Reliable can give no
assurance that they will prove to be correct. Actual results could differ
materially from those currently anticipated due to a number of risks. These
include, but are not limited to, risks associated with the acquisition of oil
and gas properties and the exploration for, and development and production of,
conventional oil and natural gas; reserves estimates; general economic
conditions; the volatility of oil and natural gas prices; changes in legislation
affecting the oil and gas industry; capital requirements; and reliance on key
personnel and financial, legal and other advisors. Certain of these risks are
set out in more detail in the Company's Annual Information Form which has been
filed on SEDAR and can be accessed at www.sedar.com or Reliable's website
www.reliableenergy.ca. 


Since forward-looking statements address future events and conditions, by their
very nature they involve inherent risks and uncertainties. The forward-looking
statements contained in this press release are made as of the date hereof and
Reliable undertakes no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


This news release does not constitute an offer to sell or a solicitation of any
offer to buy the securities in the United States. The securities offered have
not been and will not be registered under the U.S. Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements of such Act.
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