SOURCE: Timberlake Energy Solutions Inc.

March 31, 2010 09:00 ET

Timberlake Energy Solutions Inc. Enters Into Letter of Intent to Acquire Jacobs Energy LLC, a Kentucky-Based Turnkey Oil and Gas Field Operator

Acquisition Includes All Assets Including Equipment, Rigs, Rolling Stock, Logs, Road Infrastructure, Satellite Monitoring Systems, Pipelines, Oil and Gas Leases on Approximately 2000 Acres, Existing Production and 30 Drilling Locations

OVERLAND PARK, KS--(Marketwire - March 31, 2010) -  Timberlake Energy Solutions Inc. (FRANKFURT: T2YA) (PINKSHEETS: TLKE), an exploration company focused on purchasing under valued oil and gas leases in the United States, announced today that it has entered into a Letter of Intent to acquire Kentucky-based Jacobs Energy LLC.

Jacobs Energy LLC is a fully functional turnkey oil & gas field operation in the big sandy region of Eastern Kentucky with a full service operating division, oil and gas leases acreage, and production. The fields have an extensive geo-scientific survey with all wells monitored with satellite well monitoring systems. The estimated length of production for Devonian Shale Wells is 30 to 100 years. The field carries a 100% success rate for drilling activity in the past 5 years. The asset summary includes 2,000 acres more or less with 30 drilling locations.

Bob Bowersock, President of Timberlake Energy, said, "The Jacob Energy acquisition fits perfectly with our business and development strategy. As part of the proposed acquisition we have included a five year consulting agreement with its founder Jeremy Jacobs who brings years of oil field drilling experience and management to Timberlake." He also added, "The hard working and experienced field personnel at Jacobs Energy will also add to the dynamics of the Timberlake aggressive acquisition and development program."

The closing of the acquisition will be subject to due diligence and final board approval.

About Timberlake Energy Solutions Inc.

Timberlake Energy Solutions Inc. is an exploration company focused on purchasing abandoned or under valued oil and gas leases in the United States. With an experienced technical team, these oil and gas wells are refurbished and outfitted with the latest in oil and gas recovery equipment. Timberlake Energy Solutions has advanced technology to reclaim and put these wells back into production, hence increasing the well value significantly. Timberlake operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Lambton and Kent Counties, Ontario. In addition to its main operating focus, the company is actively exploring projects in the Appalachian and Michigan Basins.

Forward-Looking Statements

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact Information