BRS Resources Announces Operational Update on Italian E&P Activities
27 Settembre 2011 - 7:09PM
Marketwired
BRS Resources Ltd. (TSX-V: BRS) ("
BRS" or the
"
Company") announced today that AleAnna
Resources LLC ("
AleAnna"), an Italian oil
& gas exploration company in which BRS owns a membership
interest, has completed a 30,000 acre (136 sq km) 3-D seismic
acquisition survey on the Ponte Del Diavolo exploration permit area
in Italy. The 64,000 acre (258 sq km) Ponte Del Diavolo permit area
is located in southeastern Po Valley, and is on trend with a number
of large natural gas fields. Ponte Del Diavolo is the second large
3-D seismic survey AleAnna has completed onshore Italy. Reservoir
Geophysical Corp. in Houston, TX has been awarded the reprocessing
work for the 3-D seismic survey and processing of the data has
begun. In addition, AleAnna has filed a work commencement
application with the Italian Ministry of Economic Development for
its third 3-D seismic survey, this one on the Ponte Dei Grille
exploration permit area, also in southeastern Po Valley.
AleAnna has also received a letter from the Italian Ministry of
Economic Development confirming it has all of the necessary
government approvals and that upon receipt of the required drilling
bonds and guarantees, AleAnna will proceed with the drilling the
Gallare 6d well. AleAnna is negotiating the final agreements with
the landowner so civil work on the well site can commence. Spud
date for drilling the well will be largely dependent on drilling
rig availability, but is expected to occur in the fourth quarter of
2011.
The Gallare 6d well is located in the Corte dei Signori permit
area in the eastern half of the Po Valley, a prolific natural gas
producing region in northern Italy. AleAnna shot 3d seismic on this
permit area in 2009 and has identified numerous drilling
prospects.
"We're excited at being so close to drilling our first well in
Italy's Po Valley. Although it has taken longer than originally
anticipated, we believe the Italian approval process is improving.
The Italian government, as part of its current austerity package,
recognizes the need to develop the country's oil and gas assets. At
the same time, the government acknowledges the need to reduce the
time associated with the oil and gas permitting process," stated
Steve Moore, president of BRS. "While preparing to drill this well,
AleAnna's team is working on a drilling plan for AleAnna's second
well, which will target an untested deeper formation where 3-D
seismic data supports the possibility of a gas-rich reservoir.
AleAnna has identified numerous drilling prospects and will
continue to participate in 3-D seismic acquisitions and accelerate
its drilling program with the goal of drilling at least two wells
every year."
ABOUT BRS
BRS is listed on the TSX Venture Exchange under the symbol BRS.
The Company is an independent international oil and gas company
focused on the development and production of oil and natural gas
reserves. BRS owns a 7% membership interest (17% after payout) in
AleAnna, an oil and gas exploration and production company
operating exclusively in Italy. AleAnna has eight "Exploration
Permits" and three "Applications for Exploration Permits," totaling
more than 800,000 acres (3,250 sq km), approved by the Italian
Ministry of Economic Development (General Directorate for Energy
and Mining Resources, National Mining Office for Hydrocarbons and
Geothermics). The majority of the acreage is located in Italy's
prolific Po Valley, Europe's second largest onshore gas province,
where 27 trillion cubic feet of natural gas (Tcf) have been
produced and where significant infrastructure is already in
place.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve Moore President/CEO
For further information, please contact David Russell, Director
of Investor Relations/Corporate Communications, at 214-699-9470 or
by email at drussell@brsresources.com.
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.
Disclaimer for Forward- Looking Statements
This press release includes certain "Forward-Looking
Statements." Forward-looking statements are statements or
projections that involve various risks and uncertainties regarding
future events related to the Company's and/or AleAnna's plans.
Forward-looking statements in this news release include statements
regarding: (i) AleAnna's proposed future seismic surveys; (ii)
AleAnna's proposed drilling of the Gallare 6d well and the
estimated timing of same; (iii) drill plans for AleAnna's second
well; and (iv) AleAnna's future drilling goals generally. Actual
results may differ materially from those currently anticipated due
to a number of factors beyond the control of the Company and
AleAnna. These risks and uncertainties include, among other things,
any negative change in the law, regulatory or political environment
which would negatively affect BRS/AleAnna's ability to obtain
permits necessary for drilling, lack of sufficient financing to
proceed with proposed drilling, and other factors beyond the
Company's or AleAnna's control. These forward-looking statements
are made as of the date of this news release and, except as
required by applicable laws, the Company assumes no obligation to
update these forward-looking statements, or to update the reasons
why actual results differed from those projected in the
forward-looking statements.
For further information, please contact: David Russell Director
of Investor Relations/Corporate Communications 214-699-9470 Email
Contact
Grafico Azioni BRS Resources (TSXV:BRS)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni BRS Resources (TSXV:BRS)
Storico
Da Nov 2023 a Nov 2024