Company Expects More Positive Developments in Subsequent Days

Press Release: X-Change Corporation
 
HOUSTON--(BUSINESS WIRE)-- X-Change Corporation (OTCQB: XCHC.PK - News) an independent oil exploration and production company based in Houston, Texas, recaps recent developments as it moves forward with financing options to begin drilling on several properties.

On March 26, 2012 X-Change Corporation announced the addition of two new Board of Director members, Robert Nourse and Graciela Moreno. Mr. Nourse was appointed President and Ms. Moreno was appointed Senior Vice President of X-Change Corporation. Their combined years of executive expertise and experience will build long term revenues and shareholder growth.

Robert Nourse, President of The X-Change Corporation, has more than 14 years of progressively responsible experience raising private capital for the exploration and drilling of oil wells in excess of $100 million. Robert has led these companies in the start-up and growth phase by providing clients with superior leadership during critical transition phases. Robert Nourse has commitments of $10 Million of immediate funding to X-Change Corporation.

On April 4, 2012 X-Change Corporation announced the appointment of Atul Trivedi as the Chairman and CEO. Mr. Trivedi's years of executive expertise and experience will build long term revenues and shareholder growth. Mr. Trivedi was currently promoted to President and CEO of Cress Oil, Inc., a subsidiary of X-Change Corporation.

On April 9, 2012 X-Change Corporation announced through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas that it has entered into a purchase and sale agreement with a private company to acquire more than 44,000 net mineral acres in the Bakken and Three Forks formation in the US portion of the Williston Basin of Montana. The total purchase price is $30,800,000.00. The leases can be taken in separate blocks of 1,000 or more acres at the discretion of Cress Oil until the entire block of 44,000 acres is taken down.

On April 13, 2012 X-Change Corporation announced through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas that it has acquired a 65,000 gross acre (50,000 net acre ) lease position in the Alberta Bakken Shale formation in Montana.

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.

On April 16, 2012 X-Change Corporation announced through its subsidiary, Cress Oil, Inc. a joint venture with Nomad Energy, Inc. to provide drilling, and well services in the newly acquired 109,000 mineral acreage position in the Bakken Shale and Three Forks formation. Cress Oil expects to lay out more than $200 million in capital expenditures to explore and produce on the newly acquired mineral acreage throughout the next five years.

Nomad Energy provides services worldwide to more than four hundred different service and operating companies. Services range from drilling and completion technologies to performing dynamic and static reservoir studies all the way through integrated project management. Nomad can provide field production strategies, operations, integrated project management and deliver discreet well site services.

On April 20, 2012 X-Change Corporation announced through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas, that it will acquire leasehold interests located within the Williston Basin of North Dakotas and Montana.

Cress Oil will buy current net production and capitalize on existing assets from owner. Expectations for recoverable oil within the leasehold have resource targets of more than 900 million barrels of oil equivalent. The company plans to drill 10-20 additional wells.

With an estimated 24 billion barrels of oil within the Williston Basin, the Bakken has been the nation's largest oil discovery in more than 40 years. When the Bakken Formation was first assessed by the USGS for recoverable reserves, it turned out to be only a fraction of what the USGS and industry have actually discovered today. There continues to be acreage of recoverable oil throughout eastern Montana within the Bakken and Williston Basin.

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.

Forward Looking Statements

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.

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