WSX Wild Stream Exploration Inc.

Wild Stream Exploration Inc. (formerly Eagle Rock Exploration Ltd.) (the
"Company") (TSX VENTURE:WSX) is pleased to announce that it filed on SEDAR its
unaudited financial statements and related Management's Discussion and Analysis
("MD&A") for the three months ended March 31, 2010 and 2009. Certain selected
financial and operational information is set out below and should be read in
conjunction with Wild Stream's unaudited financial statements and related MD&A.
These filings will be available at www.wildsr.com and www.sedar.com.


The three month results below only reflect approximately two months production
from Wild Stream's three most recent corporate and property acquisitions:




Highlights
-----------
-----------

                                               Three months ended
                                                      March 31,     Percent
                                                   2010      2009    Change
                                              --------------------  --------
Financial (thousands of dollars except
 share data)

Petroleum and natural gas revenue                 6,980     2,295       204
Funds from operations (1)                         3,920     2,704        45
 Per share - basic (4)                             0.12      1.48       (92)
           - diluted                               0.10      1.35       (93)
Net earnings (loss)                                 835      (916)      191
 Per share - basic (4)                             0.03     (0.50)      106
           - diluted                               0.02     (0.50)      106
Capital expenditures, net                        32,090     1,376     2,232
Corporate acquisition                             7,584         -       100
Working capital (deficiency)                      3,980   (21,005)        -
Weighted average shares (thousands) (4)
 Basic                                           33,291     1,818         -
 Diluted                                         38,673     1,818         -

Operating (6:1 boe conversion)

Average daily production
 Natural gas (mcf/d)                                828       445        86
 Liquids (bbls/d)                                 1,004       520        93
 Barrels of oil equivalent (2) (boe/d)            1,142       594        92

Average sales price
 Natural gas ($/mcf)                               4.87      4.74         3
 Liquids ($/bbl)                                  73.23     45.03        63
 Barrel of oil equivalent ($/boe)                 67.91     42.96        58

Netbacks
 Operating netback ($/boe)                        41.94     21.11        99
 Corporate netback (3) ($/boe)                    38.13     11.52       231

(1) Management uses funds generated by operations to analyze operating
    performance and leverage. Funds generated by operations as presented do
    not have any standardized meaning prescribed by Canadian GAAP and
    therefore it may not be comparable with the calculation of similar
    measures for other entities.

(2) Boe conversion ratio for natural gas of 1 Boe: 6 Mcf has been used,
    which is based on an energy equivalency conversion method primarily
    applicable at the burner tip and does not necessarily represent a value
    equivalency at the wellhead.

(3) Corporate netbacks are calculated as the operating netback less general
    and administrative expenses and financial charges. Excluded from the
    2009 results is the impact of the realized gain on the monetization of
    the commodity hedge.

(4) All share and per share amounts reflect the approved share consolidation
    on a thirty for one basis.



2010 First Quarter Highlights

The three months ended March 31, 2010 mark the first full quarter of Wild
Stream's transformation to a resource based, high growth, oil focused junior
energy company:


- Completed the corporate acquisition of Dorado Energy Inc. which added
undeveloped land and production primarily in the Company's core area of
Garrington.


- Continued an active drilling program with 11 gross (9.4 net) oil wells drilled
primarily in Shaunavon, Dodsland and Garrington resulting in 11 crude oil wells
for a success rate of 100 per cent.


- Closed three minor property acquisitions and increased our production base and
undeveloped land in our core areas of Dodsland and Shaunavon in southwest
Saskatchewan.


- Increased average production by 85 per cent to 1,142 boe/d (88 per cent crude
oil) from 618 boe/d in the fourth quarter of 2009.


- Increased funds from operations to $3.9 million, a 115 per cent increase from
the $1.8 million in the fourth quarter of 2009.


- Achieved top quartile first quarter 2010 operating netback of $41.94 per boe,
a 99 per cent increase from the 2009 first quarter results and a 13 per cent
increase quarter over quarter from the fourth quarter of 2009.


- Reduced first quarter 2010 operating costs by 20% to $15.46/boe as compared to
$19.22/boe in the fourth quarter of 2009.


- Reduced first quarter 2010 transportation costs by 30% to $1.64/boe as
compared to 2.35/boe in the fourth quarter of 2009.


- G&A, on a boe basis, was reduced by 4% in the first quarter of 2010 compared
to the fourth quarter of 2009. As the Company's production continues to grow
further reductions in G&A per boe are expected.


- Exited March 31, 2010 with positive working capital of $4.0 million and no debt.

- Subsequent to quarter end, increased our credit facility to $50 million from
$26 million. As of May 27, 2010, the Company had not drawn on this facility.


Second Quarter Operations update

Our second quarter drilling program commenced in early May. To date this
quarter, we have drilled three successful wells with two Upper Shaunavon
horizontal wells in the Shaunavon area and one Viking horizontal well in the
Dodsland area. Drilling operations will continue this quarter and it is
anticipated that a further 7 gross (7.0 net) wells will be drilled in June.


Shaunavon area

- Our first upper Shaunavon horizontal well continues to produce significantly
above expectations. Its average rate for its first 60 days of production is
greater than 120 bbls/d of oil. Based on its current rate of 150 bbls/d of oil
we are confident that the first phase of the waterflood is showing encouraging
early results.


- Applications to expand the upper Shaunavon waterflood have been submitted with
expectations that phases 2 and 3 of the waterflood will be operational by
August.


- The initial Lower Shaunavon program has achieved expectations with average 2
month rates of 100 bbls/d of oil per well.


Dodsland area

- The first three Viking horizontal wells have produced at average rates of 50
bbls/d of oil per well in their first 60 days.


- Changes to the horizontal drilling and completion strategy at Dodsland have
resulted in material reductions to the cost of future wells. Our first well
drilled in the second quarter will have an on stream cost of $900 thousand
versus the first quarter average of $1.3 million dollars.


Garrington area

- The company's first Cardium horizontal well has achieved an average rate of
130 bbls/d in its first 40 days of production equivalent to the averages for
horizontal wells in the area.


Reaffirming 2010 Guidance

Wild Stream is reaffirming its upwardly revised guidance that the Company now
expects to average 1,750 boepd (90% oil) and achieve a 2010 exit rate of 2,200 -
2,300 boepd.


Although we have witnessed recent softening in oil prices Wild Stream is still
generating robust cashflow and has the balance sheet flexibility to execute its
$60 to 65 million E&D capital program. If WTI oil prices continue in the US
$70/bbl range, Wild Stream will have a debt to trailing cashflow of less than
0.5 times at year end 2010.


With the execution completed to date, our understanding of the Company's
resource oil plays continues to expand and the Company has an inventory of in
excess of 300 oil drilling locations. Results to date have established that
continued success and growth can be achieved with the existing asset base.


We remain committed to increasing shareholder value through a combination of
exploration, strategic acquisitions and subsequent exploitation while
maintaining a conservative approach to balance sheet management.


FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements. More particularly, this press release contains forward-looking
statements concerning the expansion of the upper Shaunavon waterflood, Wild
Stream's average production and exit rate for 2010, the Company's growth
strategy and it's exploration and development capital program. The
forward-looking statements are based on certain key expectations and assumptions
made by the Company, including expectations and assumptions concerning the
success of optimization and efficiency improvement projects, the availability of
capital, the success of future drilling and development activities, the
performance of existing wells, the performance of new wells and prevailing
commodity prices. Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking statements because
the Company can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, risks associated with the oil
and gas industry in general (e.g., operational risks in development, exploration
and production; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of reserve
estimates; the uncertainty of estimates and projections relating to production,
costs and expenses, and health, safety and environmental risks), commodity price
and exchange rate fluctuations and uncertainties resulting from potential delays
or changes in plans with respect to exploration or development projects or
capital expenditures. 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 Wild Stream's website www.wildsr.com.


The forward-looking statements contained in this press release are made as of
the date hereof and the Company undertakes no obligation 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.


Meaning of Boe: When used in this press release, Boe means a barrel of oil
equivalent on the basis of 1 Boe to 6 thousand cubic feet of natural gas. Boe
per day means a barrel of oil equivalent per day. Boe's may be misleading,
particularly if used in isolation. A Boe conversion ratio of 1 Boe for 6
thousand cubic feet of natural gas is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


This press release shall not constitute an offer to sell, nor the solicitation
of an offer to buy, any securities in the United States, nor shall there be any
sale of securities mentioned in this press release in any state in the United
States in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.

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