BW

Brookwater Ventures Inc. (TSX VENTURE:BW) reports that the operator of block 166
in the Reconcavo Basin in Brazil has commenced arbitration proceedings against
Brookwater's wholly owned subsidiary, Agua Grande Exploracao e Producao de
Petroleo Ltda. ("Agua Grande"), related to alleged non-payment by Agua Grande of
certain cash calls in excess of $3,000,000.


Brookwater is reviewing the arbitration notice and will respond in due course. 

About Brookwater:

Brookwater Ventures Inc. is a Canadian independent oil exploration company
focused on growing its asset base primarily in Brazil. 


Forward-looking information

This news release contains forward-looking information relating to the Company's
growth and corporate strategy, and other statements that are not historical
facts. Forward-looking information relates to management's future outlook and
anticipated events or results, and may include statements or information
regarding the arbitration notice received from the operator of Block 166 and the
future plans or prospects of the Company. Although management of the Company has
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking information, there may
be other factors that cause results not to be as anticipated, estimated or
intended. 


Forward-looking information is subject to certain factors, including risks and
uncertainties that could cause actual results to differ materially from what is
currently expected. These factors include risks and uncertainties associated
with oil and gas exploration, development, exploitation, delays resulting from
or inability to obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources, reliance on key
personnel, regulatory risks and delays and other risks and uncertainties
discussed in the management discussion and analysis section of the Company's
interim and most recent annual financial statement or other reports and filings
with the TSX Venture Exchange and applicable Canadian securities regulations.
There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking information.


The forward-looking statements contained in this news release are made as of the
date of this news release. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters
discussed above.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brookwater Ventures Inc.
Ahmed Said
President & CEO
403-263-3000
asaid@forbesenergygroup.com

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