In c7007 transmitted at 19:48e today, an error occurred in the summary
of key financial results table. The headers of the table should include
"ended June 30" at each column. The label for the last row of the table
should have read: "Common shares outstanding - basic" instead of "Common
shares outstanding -". Corrected copy follows:
Eagle Rock Reports Second Quarter 2009 Results

CALGARY, Aug. 21 /CNW/ - Eagle Rock Exploration ("Eagle Rock " or "the Corporation") (TSXV: ERX) has filed its Unaudited Financial Statements and Management's Discussion and Analysis (MD&A) for the second quarter ended June 30, 2009 on SEDAR. The documents can be accessed through SEDAR's website at www.sedar.com, or on Eagle Rock's site at www.eaglerockexploration.com.

The following table provides a summary of key financial results.
                                     Three     Three       Six       Six
                                    months    months    months    months
                                     ended     ended     ended     ended
                                   June 30   June 30   June 30   June 30
                                      2009      2008      2009      2008
$000's except production
 and per share amounts             $ 000's   $ 000's   $ 000's   $ 000's
-------------------------------------------------------------------------
Average daily production - boed        527       403       560       444
Petroleum & natural gas revenue      2,691     3,929     4,986     7,456
Cash flow - operating  activities      790     2,295     3,971     3,467
Loss for the period                   (646)     (613)   (1,562)     (488)
Basic and diluted loss per share     (0.01)    (0.01)    (0.03)    (0.01)
Capital expenditures                   166     4,560     1,542     6,929
Total assets                        50,546    35,432    50,546    35,432
Net (debt) cash                    (20,254)   (7,290)  (20,254)   (7,290)
Common shares outstanding - basic   54,543    54,001    54,543    54,001

The Corporation entered terms of forbearance with its bank in April 2009 following a breach of the working capital covenant in the lending agreement. The key term of the forbearance agreement was to cure the working capital default by June 30, 2009. This was not accomplished.

Subsequent to the period end Eagle Rock continued to seek solutions to the working capital issue and was successful in selling a natural gas property for net proceeds of $1.2 million. These proceeds are to be applied to reduction of the bank debt but are not sufficient to resolve the working capital problem.