Bear Ridge Resources Ltd.

Bear Ridge Resources Ltd.

April 26, 2005 23:59 ET

Bear Ridge Announces Asset Acquisition and Production Increases

CALGARY--(CCNMatthews - April 26) - Bear Ridge Resources Ltd. ("Bear Ridge") is pleased to provide an
update on 2005 drilling activity and announces completion of an asset acquisition, recent production
increases and revised 2005 production targets.

Asset Acquisition

Bear Ridge Resources Ltd. has acquired certain natural gas and light oil assets located in Central
Alberta from a private company for $10.3 million including land and seismic. Bear Ridge will finance
the acquisition with available bank lines.

The assets acquired are located in the Nelson and Sounding areas of Central Alberta and are currently
producing approximately 210 boe/d with a gas weighting of 87%. An additional 130 boe/d is tested and
behind pipe. Reserves assigned are 511 mboe of proved reserves and 560 mboe of proved plus probable
reserves. The transaction parameters related to the acquisition of the reserves and production are
$16.20 per proven boe, $14.80 per proved and probable boe and $39,524 per flowing boe net of seismic
and undeveloped land value. Both properties offer upside drilling opportunities and pool optimization
potential and provide year round drilling with available facilities and infrastructure for further

Production Additions

Bear Ridge has been granted Good Production Practices (GPP) on its 2/11-16 Viking oil well at
Sakwatamau. The 100% working interest well tested at rates exceeding 400 boe/d when it was drilled in
the first quarter 2004 and has been producing at a restricted allowable rate of 50 boe/d for the past
year. Since receiving GPP approval April 1, 2005, the well has been on production at a pump limited
rate of 320 boe/d.

With the benefit of GPP on our 11-16 Viking oil well, Company production has increased to
approximately 600 boe/d. The acquisition adds approximately 210 boe/d resulting in total current
production exceeding 800 boe/d.

Increased Production Guidance

Bear Ridge is pleased to announce that we are increasing our guidance based on the recent acquisition,
receiving GPP at Sakwatamau and our successful Q1 drilling. Our 2005 average production target
increases to 1,300 boe/d from 1,000 boe/d and our exit target increases to 2,000 boe/d from 1,300

First Quarter Drilling Activity

Bear Ridge conducted a very active drilling program during its inaugural quarter with 7 (6.25 net)
wells drilled and cased. Due to wet weather and equipment shortages, completion operations on these
wells was delayed to the second quarter.

Bear Ridge drilled and cased two (1.6 net after pay out) wells in the Sinclair area of the Peace River
Arch. Both wells encountered multi-zones of interest and will be fully evaluated in the second
quarter. The Company also drilled and cased five (4.25 net after pay out) wells in Pembina and
Highvale areas of West Central Alberta during the quarter. Completion operations are scheduled for the
second quarter to evaluate these wells.

Bear Ridge is a growth oriented junior Canadian exploration, development and production company with
operations focused in the West Central and Peace River Arch areas of Alberta. Bear Ridge has
approximately 18.3 million common shares and 6.3 million preferred shares outstanding. The common
shares of Bear Ridge are publicly traded on the Toronto Stock Exchange under the symbol "BER".

Advisory: This news release shall not constitute an offer to sell or the solicitation of an offer to
buy the securities in any jurisdiction. Such securities have not been registered under the United
States Securities Act of 1933 and may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements.

Statements in this press release may contain forward-looking statements including expectations with
respect to future events and the actions of third parties. These statements are based on current
expectations that involve a number of risks and uncertainties, which could cause actual results to
differ materially from those anticipated. These risks include, but are not limited to: the underlying
risks of the oil and gas industry (i.e. operational risks in development, exploration and production;
potential delays or changes in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections
relating to production, costs and expenses, and health, safety and environmental factors), commodity
price and exchange rate fluctuation and uncertainties.

Contact Information

  • Bear Ridge Resources Ltd.
    Russell J. Tripp
    Chairman and Chief Executive Officer
    (403) 537-8440
    Bear Ridge Resources Ltd.
    Douglas C. Hibbs
    (403) 537-8440
    Bear Ridge Resources Ltd.
    Brian A. Baker
    Vice President, Finance and Chief Financial Officer
    (403) 537-8440
    (403) 537-8450 (FAX)
    Bear Ridge Resources Ltd.
    2200, 330 - 5th Avenue S.W.
    Calgary, Alberta T2P 0L4