SOURCE: Bayside Petroleum Company, Inc.

February 12, 2010 16:00 ET

BYSD Drilling on Loma Novia Field Prospects to Commence in March 2010

DALLAS, TX--(Marketwire - February 12, 2010) -  BAYSIDE PETROLEUM COMPANY, INC. (PINKSHEETS: BYSD) is pleased to announce that it is well advanced toward carrying out its program to increase production from the Loma Novia project in Duval County, Texas, which consists of the re-entry of one well (Bishop-Duval #1) previously drilled and not completed, and the drilling of a new well (Bishop-Duval #2) on its lease. 

The Company commenced operations on the project in late December 2009. Locations were prepared in December on the #1 and #2 wells, and the #2 well was commenced with a "spudder rig." Completion on the #1 well and the drilling of the #2 well is expected to commence around the middle of March.

The famed Loma Novia field developed as a result of the 1935 strike by Humble Oil (now Exxon). In the 1960s Texaco drilled 5 wells on the current BYSD tract and completed in 2 separate zones of the Loma Novia (Hockley) formation. These wells accumulated 164,000 barrels of oil, being 33,000 per well average. An analysis of cores taken in the well and the electric log indicate there are 7 zones productive of oil and/or gas ranging from 1,400' to 2,600'. The Company believes that this well, and any new wells or re-entries on the tract should be productive and expects daily production from the Loma Novia sands in the range of 30 to 75 bopd.

REWORKING... Critically Important to Domestic Supply and Bayside Petroleum's Future
The management of Bayside Petroleum Company, Inc. believes that the potential for growth in the marginal well rehabilitation industry is extraordinary given the importance of domestic production and the vast amounts of oil & gas that are yet to be produced through the reworking of thousands of marginal wells that overlie proven reserves. The website of the Independent Petroleum Association of America notes that "According to 2007 IHS data, there are a total of 606,344 marginal oil wells in the U.S. Depending on the data source used, these wells represent between 70-80 percent of our total oil well population and 60-70 percent of our total natural gas well population. Whether the data is from IHS, EIA or World Oil, it is startlingly apparent that these wells are the foundation of U.S. supply."

BAYSIDE... Poised for Near Term Success and Long Term 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. Specializing in the reworking of wells in Oil and Gas fields with proven reserves to enhance production, Bayside is well positioned to substantially increase its proven reserves, cash flow and shareholder value over the next 12 to 18 months. The Company has entered a period of accelerated activity on numerous high-potential projects and looks forward to reporting on its progress in the weeks and months ahead.

To learn more about BYSD, please visit: 

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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