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XCHC Joins Its Neighboring Operators for Exploration and Production

4/30/2012 9:50 AM
Penny Stocks by: Hot Shot Stocks

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XCHC News! Show me the money!   X-Change Corporation’s Western Bakken Montana 65,000 Acre Play Joins Its Neighboring Operators for Exploration and Production

Apr 30, 2012 7:26:00 AM

Copyright Business Wire 2012

HOUSTON--(BUSINESS WIRE)-- X-Change Corporation (OTCQB : XCHC.PK ) announced today through its subsidiary Cress Oil, Inc., an independent
exploration and production company based in Houston, Texas that its 65000 Bakken acreage play in Teton County Montana alongside Rosetta
Resources Inc., Newfield Exploration Co., Anschutz Exploration Co. and a dozen smaller U.S. independents and Canadian junior oils have neighboring positions. The company is taking advantage of acreage positions across the state from the North Dakota-Montana Bakken play in the Williston Basin, all the way to the new Alberta Basin exploration. Teton County is seen as an analog to the existing Devonian shale oil production.

Play depths range from 4,000 to 7,500 feet in the most active exploration region, and estimates of the total resource in place vary from 10
to 15 million barrels of oil equivalent per square mile.

Like its eastern counterpart, the Alberta Basin Bakken has attractive shale oil features. It also offers multiple prospective zones,
including the Nisku, Bakken-Three Forks and Lodgepole formations, as well as other secondary targets. There is good pipeline transportation in
the area, due to in part the presence of the once prolific Cut Bank oil and gas field, in addition to Canadian production.

The company plans to evaluate the western Bakken play based on vertical test or pilot programs. No meaningful production picture will
emerge until the wells have been horizontally drilled and fractured.

“We are going to execute on our assessment plans, test multiple formations and will not plan to discuss results until we have a better
understanding of our acreage and its potential”, stated Earl Moore, board member and President of Drilling Services.

A U.S. Geological Survey reports have found that the Bakken Shale is one of the largest and richest continuous oil accumulations in the
United States. Because the Bakken shale has moved up into Canada, specifically Alberta, Canada, Cress Oil intends to explore and develop deep
into the southern Alberta basin of Montana as well. There is an estimated of 6-24 billion barrels of oil to be recovered in the Bakken formation.

About X-Change Corporation

X-Change Corporation is building interests in a broad range of oil and gas projects worldwide. The Company is an independent energy company
engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas.

About Cress Oil

Cress Oil is focused on projects for deep and shallow wells domestically and internationally. Cress Oil will partner with other oil and gas
companies to explore for reserves on properties the majors have left behind. Cress Oil earns an interest in new reserves acquired and in
production. The company intends to grow through a combination of exploration, exploitation, and development drilling, drilling services as well as strategic acquisitions of oil and natural gas fields. For more information, please visit www.cressoil.com

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect,"
"project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company`s reliance on existing regulations

X-Change Corporation Kathleen Hannifan, 281-277-0521 Investor Relations

Source: X-Change Corporation

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