updated 12/23/2010 9:16:17 AM ET 2010-12-23T14:16:17

LONDON, Dec. 23, 2010 (GLOBE NEWSWIRE) -- Alamo Energy Corp. (OTCBB:ALME): Alamo intends to continue to expand its active well portfolio and land position for its 2011 drilling campaign.

In 2010, Alamo has participated in drilling 11 new wells on approximately 1,312 acres in Texas, Kentucky, Tennessee and West Virginia. In Texas, Alamo participated in drilling the JD Hubbard well, which is located on approximately 453 acres, and has seen production from the Lozano lease.

In Kentucky, Tennessee and West Virginia, Alamo has participated in drilling 10 wells located on approximately 859 acres. On the existing acreage, there is the possibility of drilling new wells based on 20-25 acre spacing. In addition to the current acreage, Alamo has the option to participate in 12 re-completion and 4 drilldown wells across approximately 1,520.4 acres in West Virginia allowing for a potential further 60 new wells.

In the United Kingdom, Alamo has completed its analysis of reprocessed seismic lines and existing well data in close proximity to Alamo's blocks onshore UK. Using the reprocessed seismic lines that run into Alamo's 400 km sq exploration blocks, we have been able to map the route for our proposed 2D seismic shoot.

From our analysis of these seismic lines and wells in close proximity, we believe that the structural trend and oil migration correlates with our model for the blocks. Having already completed a permit study, we believe we are now in a position to commence discussions with potential seismic service companies with the intention of shooting a 2D seismic shoot in 2011.

Alamo's four UK onshore license blocks (TQ26, TQ36, TQ46, TQ56) lie directly north of the producing Palmer's Wood Oilfield operated by Star Energy, a subsidiary of Petronas. According to an independent geological report, the hydrocarbon resource potential for the all four blocks is approximately 236 million barrels.

Allan Millmaker, Chief Executive Officer, said, "We believe we have built a solid foundation for increasing our revenue stream through acreage that has the potential for a large number of wells."

About Alamo Energy Corp.

Headquartered in London, England and with operational offices in Houston, Texas, Alamo Energy Corp. (OTCBB:ALME) is an independent company focused on the exploration, development and production of onshore oil and gas reserves in the United Kingdom and United States. The company's UK exploration program is focused on four blocks spread over 400 square kilometers in an onshore oil and gas province in South East England. Alamo's U.S. operations are focused on the development of assets in Texas, Kentucky, Tennessee and West Virginia. For more information visit www.alamoenergycorp.com

The Alamo Energy Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7619

Forward-looking Statements:

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
 

CONTACT:  Alamo Energy Corp.
          Investor Relations
          Adam Holdsworth
          +1 212-825-3210
          ir@alamoenergycorp.com

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