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Rainchief Acquires 80% Interest in Weber City Prospect

TUESDAY , MAY 08, 2012 01:45 PM


Nueva Oil & Gas to manage & operate site

VANCOUVER, May 8, 2012 /PRNewswire/ - RainChief Energy Inc. (OTCBB: RCFEF) today announced the execution of a farm-in agreement with Rich
Investments and Leare Developments of Vancouver, BC. The agreement
gives RainChief the opportunity to earn up to an 80% working interest
in the Weber City Prospect oil property.

The Weber City Prospect was introduced to RainChief by Nueva Oil & Gas
Corporation. The property is located in New Mexico's Permian Basin and
includes 5,800 acres of oil and gas leases.

The Permian Basin has produced over 20 billion barrels of oil with a
financial value that exceeds $2 trillion, based on today's oil prices.
The Basin produces 17% of total United States crude oil and represents
66% of Texas' current oil production. Proven reserves are second only
to Alaska and New Mexico's portion of the Basin holds three of the 100
largest oil fields in the US.

Nueva will earn up to a 10% working interest in the property and will
manage all exploration and development activities on the Weber City
property. Nueva is controlled by Norman Mackenzie, who is also the
founder of C&C Energia Ltd. (TSX: CZE). Mackenzie will directly advise
RainChief on all aspects of site geology and project development.

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