SOURCE: Bayside Petroleum Company, Inc.

February 04, 2010 16:00 ET

Bayside Petroleum to Carry Out a Major Rework Program on South Texas Properties

DALLAS, TX--(Marketwire - February 4, 2010) - BAYSIDE PETROLEUM COMPANY, INC. (PINKSHEETS: BYSD) is pleased to announce that, following an initial study, the Company has commenced a major rework program on a number of the wells acquired in its recent merger in order to increase and/or restore production rates. The work on three (3) wells has been successfully completed, providing a significant increase in the daily production rates. Additional well remediation work is planned in the near future.

Bayside acquired Nueces Valley Resources (NVR) to capture the potential that management identified on the South Texas and other NVR properties and is now advancing the remedial program aimed at realizing that considerable potential. The Company hopes to acquire additional interests in the projects through the exchange of its shares of Common Stock in the near future.

REWORKING OF MARGINAL WELLS... Critically Important to Domestic Supply

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 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.

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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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