CALGARY, ALBERTA--(Marketwire - July 30, 2010) - 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE 
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A 
VIOLATION OF U.S. SECURITIES LAW.

This News Release shall not constitute an offer to sell or the solicitation 
of an offer to buy any securities nor shall there be any sale of securities 
in any jurisdiction in which such offer, solicitation or sale would be 
unlawful. The Subscription Receipts have not been and will not be 
registered under the United States Securities Act and may not be offered or 
sold in the United States except in transactions exempt from such 
registration.

Whitecap Resources Inc. ("Whitecap") (TSX VENTURE:WCP) is pleased to 
announce that it has completed its previously announced acquisition (the 
"Acquisition") of Onyx 2006 Inc. ("Onyx") an Alberta based private oil and 
gas company. Whitecap assumed approximately $10.8 million of total net 
liabilities and paid $41.2 million in cash to the former shareholders of 
Onyx pursuant to the Acquisition.

With the closing of the Acquisition, the outstanding subscription receipts 
of Whitecap have been exchanged for common shares of Whitecap ("Common 
Shares") effective today. Holders of subscription receipts will receive one 
Common Share for each subscription receipt held. Holders of subscription 
receipts are not required to take any action in order to receive the Common 
Shares to which they are entitled. The subscription receipts (TSXV: WCP.R) 
will be delisted from the TSX Venture Exchange. 

Through the Acquisition, Whitecap is acquiring assets consisting primarily 
of Cardium production and undeveloped lands in the Greater Pembina area of 
west central Alberta. The assets acquired have limited Cardium oil 
depletion and are ideal for multi-stage, horizontal wells. 

Concurrently with the closing of the Acquisition, Whitecap has increased 
its credit facility with a Canadian financial institution from $35 million 
to $55 million. The next scheduled review is set to take place on or before 
May 31, 2011.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Whitecap Resources Inc.
Grant Fagerheim
President & CEO
(403) 266-0767
(403) 266-6975  (FAX)
or
Whitecap Resources Inc.
Thanh Kang
VP Finance and CFO
(403) 266-0767
(403) 266-6975  (FAX)
or
Whitecap Resources Inc.
500, 222 - 3 Avenue SW
Calgary, AB
T2P 0B4

Neither the TSX Venture Exchange nor its Regulation Services Provider (as 
that term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release.