SOURCE: Bayside Corporation

April 18, 2012 10:04 ET

Acquisition of Oil and Gas Lease to Produce Oil Reserves in South Texas Announced by Bayside Corporation

DALLAS, TX--(Marketwire - Apr 18, 2012) - BAYSIDE CORPORATION (PINKSHEETS: BYSD) an energy exploration, development and production company building oil & gas reserves announces the acquisition of an oil and gas lease covering the Moody and West wells in Duval County, Texas.

Bayside, acting through its wholly owned subsidiary, has acquired 100% of oil and gas leases covering 181 acres and the existing 7 wells situated on the property. The wells have previously produced oil from Jackson Series sands (Government Wells and Loma Novia zones) between depths of 2,200' and 2,400'. The wells were shut-in when the previous operator passed away and have been sitting dormant since. The Company plans to rework and/or re-complete each well and return them to commercial production of oil. The lease may also afford the opportunity to drill additional development wells in the future on the property.

Gordon Johnson, the CEO of Bayside Corporation, stated, "This lease is adjacent to existing oil leases owned by the Company in Duval County and fits nicely into its ongoing rework and re-completion program. Work is planned to commence on the existing wells during the second quarter of this year. As we bring the wells on line and into production and the results become available we will be announcing the results of our efforts. Bayside Corporation is pleased to participate in the future cash flow from these properties."

About Bayside

Bayside Corporation (PINKSHEETS: BYSD) is an energy exploration, development and production company building oil & gas reserves and production in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the business of reworking & re-completing 'marginal' oil & gas wells located in the thousands of mature oil & gas producing fields across much of the United States.

For additional information on the Company visit our website at: http://baysidepetroleum.com/

Forward-Looking Statement: This press release may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such projections or statement reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. Important factors that could cause actual results to differ from those projected, are decreases in oil and gas prices or decreases in oil and gas production. The company's actual results could differ materially from those discussed herein. Forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements.

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