Bonanza resources Rebound
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schaut euch mal den Kurs an
ein rebound ist hier drin
Nov 17/11 Nov 17/11 Coulthard, Byron k Direct Ownership Common Shares 10 - Acquisition in the public market 20,000 $0.330
Nov 17/11 Nov 16/11 Coulthard, Byron k Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.330
Nov 17/11 Nov 16/11 Coulthard, Byron k Direct Ownership Common Shares 10 - Acquisition in the public market 10,000 $0.300
Nov 17/11 Nov 11/11 Coulthard, Byron k Direct Ownership Common Shares 10 - Acquisition in the public market 109,000 $0.200
Nov 14/11 Nov 4/11 Double Black Diamond Offshore Ltd. Direct Ownership Warrants 16 - Acquisition under a prospectus exemption 9,450,000
Nov 14/11 Nov 4/11 Double Black Diamond Offshore Ltd. Direct Ownership Warrants 00 - Opening Balance-Initial SEDI Report
Nov 14/11 Nov 4/11 Double Black Diamond Offshore Ltd. Direct Ownership Convertible Notes 16 - Acquisition under a prospectus exemption 5,670,000
Nov 14/11 Nov 4/11 Double Black Diamond Offshore Ltd. Direct Ownership Convertible Notes 00 - Opening Balance-Initial SEDI Report
Nov 14/11 Nov 4/11 Black Diamond Offshore Ltd. Direct Ownership Warrants 16 - Acquisition under a prospectus exemption 550,000
Nov 14/11 Nov 4/11 Black Diamond Offshore Ltd. Direct Ownership Warrants 00 - Opening Balance-Initial SEDI Report
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FOR FIRST ITALIAN WELL
DALLAS, TEXAS–December 5, 2011: BRS Resources (TSX.V: BRS) (“BRS” or the “Company”) today
announced that the drilling permit for the Companyʼs first well in Italy – the Gallare 6d – has been issued by
the Italian Ministry of Economic Development. The permit was issued to the operator AleAnna Resources
LLC, an Italian oil & gas exploration company in which BRS owns a 17.35% membership interest. At the
same time AleAnna finalized a land usage agreement with the landowner. AleAnna is quickly moving ahead
with drilling plans and expects to spud the Gallare 6d well within the next 60 to 90 days, depending upon rig
availability. The wellʼs bottomhole location has been selected using processed 3D seismic data and
construction of the drilling pad will commence in mid-December.
“This is a very exciting time for BRS,” stated Steve Moore, president and CEO of BRS Resources. “We are
thrilled that AleAnna has its first drilling permit in hand, though itʼs really just the beginning of an exploration
and development program that will lay the foundation for BRS Resourcesʼ future growth. This permit has
been eagerly anticipated, and now BRS, through our ownership position in AleAnna Resources, can
commence drilling our first well in Italyʼs Po Valley. Subject to rig availability and weather, we hope to
commence drilling in early 2012. Plans are already in place for the application of several additional drilling
permits in Italy in 2012, as well.”
Through BRSʼs ownership of AleAnna Resources, one of the largest independent oil and gas exploration
and production companies operating in Italy, the Company has eight “Exploration Permits” and three
“Applications for Exploration Permits,” totaling more than 800,000 acres (3,250 sq km). The majority of the
acreage is located in Italyʼs prolific Po Valley, Europeʼs 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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve Moore
President/CEO
Phone: 214.699.9470
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.
The Report estimates, as of October 31, 2011, the Company's proven reserves (P1) at 2.21 BCF recoverable gas in the Gallare Field, of the CDS, with future net revenues of US$17.25 million before income tax (net of all drilling and completion costs), discounted at 10% annually. In addition, the Chapman report indicates probable reserves in the Gallare, Gallare Northwest, Corte Mezzo and Trava structures of 7.62 BCF and future net revenue of $49.54 million net to the Company, discounted at 10% annually. The Company's possible reserves for these structures are estimated to be 7.98 BCF with future net revenue of US$48.68 million, discounted at 10% annually. In summary, the Chapman report indicates total recoverable reserves (P1, P2, and P3) of 17.81 BCF with future net revenue of US$115.47 million net to the Company, discounted at 10% annually.
The Company's estimated net reserves and future net revenues before income tax (net of all drilling and completion costs) based on the P1, P2, and P3 assumptions are highlighted in the table below:
Future Net Future Net
Revenue (MM$ Revenue (MM$
Recoverable Future Net discounted @ discounted @
Category Gas (BCFG) Revenue (MM$) 5%) 10%)
Total Proved (P1) 2.21 31.49 22.87 17.25
Probable 7.62 115.49 72.60 49.54
Total Proved plus
Probable (P2) 9.83 146