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WHITECAP ANNOUNCES CLOSING OF $40.05 MILLION BOUGHT DEAL FINANCING

CALGARY, ALBERTA – July 30, 2010.  Whitecap Resources Inc. ("Whitecap" or the "Company") (TSXV: WCP) is pleased to announce that it has closed its previously announced $40.05 million bought deal subscription receipt financing (the "Offering") with a syndicate of underwriters led by GMP Securities L.P. and including National Bank Financial Inc., Cormark Securities Inc., FirstEnergy Capital Corp., Haywood Securities Inc., Macquarie Capital Markets Canada Ltd., Casimir Capital L.P., and Mackie Research Capital Corporation (the "Underwriters"). Pursuant to the Offering, Whitecap issued 89,000,000 subscription receipts ("Subscription Receipts") of Whitecap at a price of $0.45 per Subscription Receipt (the "Offering Price").

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Profitable Per Share Growth Within Funds Flow

Whitecap Resources Inc. is an oil-weighted growth company that pays a monthly cash dividend to its shareholders.

We are focused on providing sustainable dividends and profitable per share growth enhanced by value added acquisitions.

Whitecap's common shares are traded on the Toronto Stock Exchange under the symbol WCP.

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