BRS Resources Announces Operational Update of Its Italy Activities
26 April 2011 - 3:15PM
Marketwired
BRS Resources Ltd. (TSX-V: BRS) ("BRS" or the "Company") today
announced an operational update of its activities in Italy through
its membership interest in AleAnna Resources LLC ("AleAnna").
As of today, the Italian Ministry of the Economic Development
has awarded AleAnna a total of eight exploration permits and
subsequently published the awarding of these permits in the
Official Bulletin of Hydrocarbons and Geothermal Resources. Five of
the exploration permits were awarded in the last 9 months --
Molino, Bugia, Fantozza, and Belgioioso in the Po Valley (northern
Italy) and Torrente Acqua Fredda in the Bradano basin (southern
Italy), an area with a history of significant oil and natural gas
production. The other three exploration permits -- Corte dei
Signori, Ponte dei Diavolo, and Ponte dei Grilli -- were awarded
and announced previously. AleAnna's three remaining Applications
for Exploration Permits -- two in the Po Valley and one in the
Bradano basin -- should be awarded later this year.
Earlier this year AleAnna contracted with Geotec SpA to perform
a 3D seismic acquisition program on its Ponte dei Diavolo permit
area in the Po Valley. The Ponte dei Diavolo permit area, located
southwest of Venice, covers an area of approximately 50,000 acres
(200 sq km) with numerous natural gas exploration targets on trend
with several large existing gas fields. The seismic program,
covering approximately 39,000 acres (156 sq km), is in its
permitting and design phase. AleAnna is also considering two
additional 3D seismic acquisition programs on other permit areas
for later in the year.
AleAnna already completed a 32,124-acres (130-sq km), 3D seismic
program in its Corte dei Signori permit area, which identified
several significant structural anticlines and has completed all
preliminary work and filings related to drilling its first well.
Barring any unforeseen issues, AleAnna expects final approval from
both regional and federal governments shortly and will then begin
prepping the well site. AleAnna is currently proceeding with
contracting for the drilling rig and finalizing the design of the
well bore.
"This is a very exciting time for AleAnna Resources and BRS
Resources. We're close to wrapping up the exploration permit
application process and will soon commence our drilling program.
Our first well in the Corte dei Signori permit area is slated to
begin drilling shortly," stated Steve Moore, president/CEO of BRS
Resources Ltd. "We also pioneered 3D seismic acquisition technology
onshore Italy. And we're ready to begin our second 3D seismic
acquisition survey, the next step in a well-funded, well-planned
exploration and production program over the next several years in
Italy."
ABOUT BRS RESOURCES
BRS Resources is listed on the TSX.V 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 Resources LLC, 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 historically 27 trillion cubic feet of
natural gas (Tcf) have been produced and where significant
infrastructure is already in place.
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.
This press release includes certain "Forward-Looking
Statements". Words such as "barring any unforeseen issues", "will
soon commence", "slated to begin shortly", should be awarded", and
words of similar import also identify forward-looking statements.
Forward-looking statements in this news release include statements
about when and where BRS/AleAnna will drill its first well, and
when BRS/AleAnna's exploration permit applications are expected to
be awarded. Actual results may differ materially from those
currently anticipated due to a number of factors beyond the
Company's control. 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, 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
BRS Resources (TSXV:BRS)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
BRS Resources (TSXV:BRS)
Historical Stock Chart
Von Mai 2023 bis Mai 2024