Breezer Ventures Inc.

April 10, 2012 19:31 ET

Breezer Ventures Announces Joint Venture on Jackson Oil and Gas Leases

CHANG CHUN, CHINA--(Marketwire - April 10, 2012) - Breezer Ventures Inc. (BRZV) (PINKSHEETS:BRZV) ("Breezer" or the "Company") is making a significant step forward in its growth strategy to develop its Texas oil and gas assets. The Company has entered into a joint venture to develop the Jackson Oil and Gas Leases into production with Firecreek Global Inc. (Firecreek) and Tristar Energy Group Inc. (Tristar).

Breezer, Firecreek and Tristar have agreed to work together closely to embark on an active drilling program in the Jackson Oil and Gas play. It is a three phase work program totaling $2,475,000 in work expenditures; the first phase scheduled to commence April 20, 2012. Tristar will be responsible for funding $1,875,000 and the balance of $600,000 will be prorated between the working interests' owners. Firecreek will be the Operator through all phases of the program. Tristar will earn up to a 50% working interest, Global will earn up to 6/16th working interest and Breezer will earn a 1/16th working interest in all the wells to be developed.

Breezer has been working in Texas since 2010. The Company acquired Well #6 in 2011 and currently has an option to acquire nine oil and gas leases, in addition, to the fourteen new wells to be developed under this new joint venture development program in the Jackson play. Now with the addition of this joint venture, the Company has significantly increased and complimented its portfolio and interest in the Jackson play.

Tang Xu, President, commented, "I am pleased that Breezer has reached an agreement with Firecreek and Tristar. This joint venture will allow us to accelerate development of our Jackson play. Firecreek is an accomplished oil and gas operator with extensive drilling and completion experience over a number of plays in the U.S. and internationally. Tristar is an established and proven European based financier of oil and gas plays and are excited at the prospect of the return in their investment in this play."

The entire work program will see the reopening of ten existing wells that had historical production and the drilling of four new wells. The initial phase of the joint venture will consist of re-establishing production in three existing wells and the drilling of one new well.

Breezer, Firecreek and Tristar have an aligned interest vision for the aggregation and monetization of oil and gas in the Jackson play and intend to leverage their respective skills in the rehabilitation of existing oil and gas wells, exploration of new oil rich zones and production development to deliver success for the benefit of all stakeholders.

About Breezer Ventures Inc.

Breezer Ventures Inc. (PINKSHEETS:BRZV) is an oil and gas exploration and production Company engaged in oil production and its associated activities including: exploration, extraction, processing, and reclamation. The Company specializes in sustainable, low-cost oil and gas production which delivers value from efficiency. The Company currently owns and operates Well #6 located in the Jackson Oil and Gas leases located in Texas.

Forward-Looking Statements

This current report contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, continuing production from the "Jackson Oil and Gas Leases", or the generation of positive cash flow as a result, updating of the corporate website or the availability of an independent geological report outlining the leases, their production, and their potential. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of oil and gas prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.


Tang Xu, Director

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