Watch Announces Drilling Program

WATCH RESOURCES LTD. ("Watch" or the "Company") is pleased to release the following update on its upcoming nineteen (19) well drilling program for 2007. The Company started on Wednesday, February 7, 2007, with its budgeted drilling program for 2007. The Company has contracted a rig to move and spud the first of nineteen (19) new wells on Thursday, February 8, 2007.

The only gas well and the first ten (10) oil wells are all licensed, fully constructed, and ready to drill immediately. The working interests in each of these wells are 100% held by Watch, subject only to the Company's Metis partners electing to participate for a 25% interest at casing point, and are presently expected to be drilled within 33 to 37 days, using the one rig and assuming three (3) days to drill, log, and case (four (4) days for wells with cores) each well. Each of these wells is on the Fishing Lake Metis Settlement (the "Settlement") in Twp. 57 & 58 Ranges 1 & 2 W4M.

The next eight (8) wells are 66 2/3% held by Watch and 33 1/3% for the account of the Metis' Oil Company and are located on a parcel immediately adjacent to the above drilling locations but off the Settlement lands. These latter well sites are surveyed and ready for licensing, after which site construction can begin. Depending on the timing of spring break-up, the Company presently expects to have these wells drilled as soon as practicable after the first eleven (11) wells. Completions on all the wells are expected to follow in a timely fashion after all the logs, cores, and all other information are obtained and interpreted by the Company.

For any clarification on the above items please contact the Company directly in the City of Calgary at (403) 265-1951. -- www.tsx.com