SOURCE: Bayside Petroleum Company, Inc.

January 20, 2010 16:52 ET

9,000 Foot Development Well to Be Drilled on Bayside Petroleum's Leases in the Muscadine Field, Texas

DALLAS, TX--(Marketwire - January 20, 2010) - BAYSIDE PETROLEUM COMPANY, INC. (PINKSHEETS: BYSD) is pleased to announce that it has entered into an agreement with a local Dallas, Texas independent oil company to drill a 9,000 foot Wilcox development well on its leases in the Muscadine Field, Tyler County, Texas. Bayside will be carried for a 15% working interest to the point of electing to set production casing and making a completion attempt on the well. Drilling of this 9,000 foot well is expected to be carried out in the first half of 2010.

The Muscadine Field

This field is located on a 230-acre oil and gas lease in Tyler County. The lease has 3 wells situated thereon, one of which is currently producing at the rate of 13-15 bopd. Remedial and re-completion work on the property is pending the approval of a Plan of Operation by the National Park Service. The field produces from multiple zones in the Wilcox formation, occurring between the depth of 8,175' and 8,500'. The field has accumulated production of approximately 400,000 barrels of oil and 350 million cubic feet of gas. Drilling of a 9,000 foot Wilcox development well on its leases in the Muscadine Field reflects the companies' confidence in the potential of the prominent Wilcox formation in this region.

BYSD Expanded Activities:

In addition to the increased interests announced recently in numerous projects in Texas, Louisiana and Mississippi, as well as a 2.5% carried working interest in 7 licenses (concessions) in Romania, Bayside now owns and manages oil production of approximately 100 barrels per day in South Texas (Dimmit, Frio, Zavala and LaSalle Counties) and in N.E. Kansas (Douglas, Franklin and Miami Counties). The Company is now the manager of a number of joint ventures that own interests in these wells. The wells in Texas number 34 and a number of them are candidates for rework and/or re-completion to enhance the daily production rates. The wells in Kansas number approximately 200 and produce oil from shallow depths, ranging from 300' to 950'. Every project in Kansas is a candidate for waterflooding (secondary recovery), which when installed significantly increases the daily production rates. Since its inception, the Company has focused on the acquisition of fields with proven and verifiable reserves that offered low risk and high potential returns. The drilling of a 9,000 foot Wilcox development well on its leases in the Muscadine Field, Tyler County, Texas reflects the companies' confidence in the potential of the prominent Wilcox Formation in this region.

BAYSIDE... Poised for Growth

Dallas based Bayside Petroleum Company, Inc. is an aggressively managed energy exploration, development and production company in the process of building oil & gas reserves and production in some of the most prolific hydrocarbon bearing regions of the United States. Bayside is well positioned to substantially increase its proven reserves, cash flow and shareholder value over the next 12 to 18 months.

For more information regarding BYSD, please visit: http://www.baysidepetroleum.com

In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Bayside Petroleum Company, Inc. notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. Accordingly, Bayside wishes to caution readers of this announcement that its future actual results may differ materially from those that any forward-looking statements may imply. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the Company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future.

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