BrazAlta Resources Corp.
TSX VENTURE : BRX

BrazAlta Resources Corp.

December 04, 2007 16:36 ET

BrazAlta Resources Corp. Enters into Farm-Out Agreements (Correction)

CALGARY, ALBERTA--(Marketwire - Dec. 4, 2007) - BrazAlta Resources Corp. ("BrazAlta") (TSX VENTURE:BRX) recognized one inaccuracy within its previously released announcement of the farm-out agreements dated December 3, 2007. Specifically, Petro Latina do Brasil Exploracao e Producao de Petroleo e Gas Natural Ltda. ("PetroLatina") has the ability to earn a 20% working interest (previously reported 12.5%) on Blocks 94, 105, 115 and 116 in the Reconcavo basin in Brazil.

Please refer to the press release dated December 3, 2007 for additional information.

BrazAlta is a publicly traded a Canadian based international oil and gas corporation primarily engaged in exploration, development and production of oil and gas in Brazil, Northern Ireland and Canada. As a result of its current land holdings, BrazAlta is currently the largest Canadian independent onshore exploration corporation in Brazil. For additional information, please visit BrazAlta's website: www.brazalta.com.

PetroLatina is BrazAlta's partner with respect to certain of BrazAlta's Brazilian exploration and production operations in the Reconcavo basin of Brazil.

This press release may contain statements within the meaning of safe harbour provisions as defined under US Laws and Regulations. The above statements are based on the current expectations and beliefs of management and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above. Neither BrazAlta nor PetroLatina take nor undertake any responsibility with regard to the accuracy of this press release nor the obligation to update the abovementioned information.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation. A barrel of oil equivalent (boe) is derived by converting gas to oil in the ratio of six thousand cubic feet of gas to oil and may be misleading, particularly if used in isolation. A boe conversion is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead, especially in various international jurisdictions.

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

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