Paramax Resources Ltd.

Paramax Resources Ltd.
Bridge Resources Corp.

Bridge Resources Corp.

April 29, 2010 08:45 ET

Bridge Resources Corp. and Paramax Resources Ltd. Announce Initial Test Results on First Idaho Well

CALGARY, ALBERTA--(Marketwire - April 29, 2010) - Bridge Resources Corp. (TSX VENTURE:BUK) and Paramax Resources Ltd. (TSX VENTURE:PXM) are very pleased to announce that the first joint well in their Idaho drilling program, the M.L. Investments 1-10 ("the ML well") has tested significant quantities of gas and is now being fully completed for future production.

After perforating, gas flowed from a Pliocene sand at a stable rate of 4.2 million cubic feet per day on a 24/64" choke with a flowing surface pressure of 1,550 psi. Condensate was also produced at a rate to be determined. Production tubing and wellhead equipment are currently being installed prior to further flow tests and pressure buildup analysis.

Following full completion of the ML well, the completion rig will move to test the second well in the exploratory drilling program, the Espino 1-2, which encountered several Pliocene sand gas zones.

Or visit our websites at and

Statements in this press release may contain forward-looking information including expectations of commerciality of any discovery, future operations, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

Neither 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.

Contact Information