Bronco Energy Ltd.
TSX VENTURE : BCF

Bronco Energy Ltd.

January 29, 2007 01:18 ET

Bronco Enters Into Arrangement With a Second Cree Nation

CALGARY, ALBERTA--(CCNMatthews - Jan. 29, 2007) - Bronco Energy Ltd. ("Bronco") (TSX VENTURE:BCF) announces that it has entered into an arrangement with a Cree Nation in North West Alberta that grants Bronco the exclusive opportunity to negotiate and enter into an agreement to explore and develop for oil and gas on its traditional and reserve lands. The lands comprise approximately 6 townships (138,240 acres) and are located in the heart of the Peace River Arch. The properties are prospective for multi-zone shallow to medium depth oil and gas. Terms of the formal joint operating agreement are being negotiated and finalized with further details expected to be announced in the coming weeks.

Mr. Brian Alford, President and CEO, stated, "Bronco is delighted to expand its opportunities into the prolific Peace River Arch, while at the same time building relationships with influential First Nations leaders."

Bronco also wishes to report that at Wabasca, Alberta, the 4 north pad horizontal wells have recovered load fluid and the wells are now producing new oil with high fluid levels.

Bronco Energy Ltd. trades on the TSX Venture Exchange under the symbol "BCF".

This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under Bronco's control which may cause actual results, performance or achievements of Bronco to be materially different from the results, performance or expectations implied by these forward-looking statements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities offered have not and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Bronco Energy Ltd.
    Brian Alford
    President and Chief Executive Officer
    (403) 699-8383
    (403) 693-0038 (FAX)
    or
    Bronco Energy Ltd.
    David Johnson
    Chief Financial Officer
    (403) 699-8383
    (403) 693-0038 (FAX)
    Website: www.broncoenergy.ca