Bordeaux Energy Inc.

Bordeaux Energy Inc.

November 14, 2007 17:17 ET

Bordeaux Signs Agreement to Explore on the North Slope of Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) -


Bordeaux Energy Inc. ("Bordeaux" or the "Company") (TSX VENTURE:BDO) is pleased to announce that it has today entered into a participation agreement (the "Participation Agreement") with Savant Alaska LLC ("Savant") under which Bordeaux will earn a 30% undivided interest in seven leases ( the "Leases") currently held 100% by Savant, located on and offshore the North Slope of Alaska. The Leases are immediately adjacent to the 120 million barrel Liberty Field operated by BP but not yet in production.

Bordeaux expects that the first exploratory well (the "Exploratory Well") on the Leases will be drilled on or about mid-March 2008. The Exploratory Well will test a prospect identified by Savant on a large 3-D seismic survey that was acquired by BP in 1993 and 1995 and held by Savant under a prior license agreement between Savant and BP.

Under the Participation Agreement, the Company has the right to earn an undivided 30% working interest in the Leases by paying (a) 30% of the land and data costs (approximately US$1,200,000), and (b) 40% of the costs and expenses of the Exploratory Well up to a maximum cost of US$7,000,000, net to Bordeaux after which Bordeaux will pay its proportionate 30% share of any additional costs. Upon completion of the Exploratory Well, the Company will have earned an undivided 30% working interest in the Leases and each of the parties must pay its participating interest share of the future costs and expenses relating to the Leases.

Closing of the transaction is anticipated to occur on or around December 15th, 2007 and is conditional upon the receipt of all necessary regulatory and stock exchange approvals.

Forward-Looking Statements:

Certain statements contained in this press release are not based on historical facts and may constitute forward-looking statements or forward-looking information within the meaning of applicable law. These statements appear in a number of different places herein and can be identified by words such as "will", "anticipates", "expects", "intends", or other comparable words. Forward-looking statements and information include statements regarding the trading of the Warrants and other statements, and are subject to risk, uncertainties, and other factors, that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements or information. See the Company's filings with the Canadian securities commissions for additional information on risks and uncertainties relating to the forward-looking statements and information. Many of these factors are beyond the control of the Company. Consequently, all forward-looking statements and information made herein, are qualified by this cautionary statement. The Company disclaims any intention or obligation to revise or update such statements or information except as may be required by law.

This release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The Common Shares and the other securities referred to herein have not been registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States absent registration or an applicable exemption from registration.


Geoff Carrington, President & CEO

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

Contact Information