Brownstone Ventures Inc.
TSX VENTURE : BWN

Brownstone Ventures Inc.

November 25, 2009 15:48 ET

Brownstone Ventures Inc. Releases Unaudited Results for the Three Months Ended September 30, 2009

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2009) - Brownstone Ventures Inc. (TSX VENTURE:BWN) today announced its unaudited results for the three months ended September 30, 2009.

As at September 30, 2009, the Company had cash and cash equivalents, investments in bond, and bank deposit notes of $5.4 million as compared to $6.2 million as at June 30, 2009. Investments at fair value, excluding investments in bond and bank deposit notes, totaled $21.5 million at September 30, 2009 as compared to $15.4 million at June 30, 2009. Also at September 30, 2009, oil & gas properties and related expenditures totaled $35.2 million as compared to $38.1 million as at June 30, 2009.

Financial Highlights for the three months ending September 30, 2009 with comparatives:



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Operating Results Three months ended
(Unaudited) September 30,
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2009 2008
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Realized gains on disposal of
investments, net $ 77,556 $ 1,444,737
Unrealized gains (losses) on
investments, net 3,687,641 (33,114,939)
Net investment gains (losses) 3,765,197 (31,670,202)
Total expenses 4,148,461 732,248
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Net loss for the period 648,126 27,046,166
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Basic and diluted loss per common share 0.01 0.54
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Balance Sheet Highlights
(Unaudited) September 30, 2009 June 30, 2009
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Cash and cash equivalents, investment
in bonds, and bank deposit notes $ 5,437,597 $ 6,221,518
Investments, at fair value (excluding
investment in bond and bank
deposit notes) 21,470,157 15,409,917
Oil & gas properties and related
expenditures 35,205,514 38,145,216
Total assets 70,035,216 70,638,276
Total liabilities 239,089 366,846
Share capital, warrants and contributed
surplus 68,581,100 68,408,277
Retained earnings 1,215,127 1,863,153
Working Capital 31,190,771 26,708,011
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During the three months ended September 30, 2009, the Company spent cash of $394,545 on oil & gas properties and related expenditures and wrote-off $3,334,247 relating to its Brazilian properties which had unsuccessful drill results. As at September 30, 2009, oil & gas properties and related expenditures totaled $35,205,514 as compared to $38,145,216 at June 30, 2009.

Brownstone is currently participating in eight oil and gas exploration projects based in the United States (Colorado/Utah and Oregon), Colombia, Israel, Argentina, Brazil, Canada and India.

About Brownstone - Brownstone Ventures Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 295km2 in the Assam/Arakan Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil; a 50% interest in approximately 160,000 hectares in the Quebec Lowlands and a 15% participating interest in a 97,000 acre off-shore Israel oil and gas block. For additional information, please see Brownstone's website: www.brownstoneventures.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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