SOURCE: Bayside Corporation

April 10, 2012 10:56 ET

Bayside Corporation Announces Renewal of Oil and Gas Lease in Tyler County, Texas

DALLAS, TX--(Marketwire - Apr 10, 2012) - BAYSIDE CORPORATION (PINKSHEETS: BYSD) today announced the renewal of oil and gas leases in the Muscadine Field, located on 230 acres in Tyler County Texas. The Muscadine Field has three existing wells and the Company plans to drill one new well to complete in multiple zones of the Wilcox formation. The field has accumulated production of approximately 400,000 barrels of oil and 350 million cubic feet of natural gas.

Gordon Johnson, the CEO of Bayside Corporation, states, "We are pleased to announce the renewal of the Muscadine Lease, as the Company grows its oil and gas reserves in the United States. This Lease holds accumulated reserves that we will produce and take to market starting this year. Initially we will permit and drill a new well (the No. 2-R) as a replacement to the No. 2 well now on the lease. The No. 2 well will be held for future use as a saltwater disposal well. Once we have drilled and completed the new well we will announce the results of the production level.

"The remaining two wells, the No. 3 and 4, are located on lands of which the surface is controlled by the National Park Service. Subsequent to the drilling operation we will file a Plan of Operation with the National Park Service and upon approval the Company will commence rework and/or re-completion operations on these wells. After completing these operations the Company will evaluate the lease for future possible additional drilling.

"Bayside Corporation owns 100% working interest in the Muscadine Field and has a 70% net revenue interest for this lease.

"This is an excellent opportunity for Bayside to bring increased production from this field to the market."

About Bayside

Bayside Corporation 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:

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.

Contact Information

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