Brek Energy Corporation

Brek Energy Corporation

March 08, 2005 14:39 ET

Brek Energy Announces 2004 Year-End Proved Reserves


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BREK ENERGY CORPORATION

PINK SHEETS SYMBOL: BREK

MARCH 8, 2005 - 14:39 ET

Brek Energy Announces 2004 Year-End Proved Reserves

LONDON, UNITED KINGDOM--(CCNMatthews - March 8, 2005) - Brek Energy
Corporation (PINK SHEETS:BREK) is pleased to announce that its estimated
2004 year-end proved reserves were approximately 6.8 Bcf of natural gas
and 51,495 barrels of condensate. Approximately 14% of total reserves
are categorized as proved developed and 86% are proved undeveloped. In
accordance with SEC guidelines, reserve estimates do not include any
probable or possible reserves that may exist for Brek Energy's
properties.

Brek's estimated, pre-tax future net cash flows discounted at 10%
(commonly known as the SEC PV-10 figure) for proved reserves at year end
was $5.7 million. The 2004 PV-10 calculation used net year-end commodity
prices of $5.24 per million British thermal units (MMBtu) of natural gas
and $42.25 per barrel of crude oil (Bbl). Reserve estimates are
engineered by independent reservoir engineering consultants, Netherland
Sewell and Associates, and conform to the definition as set forth in the
SEC Regulation S-X Part 210.4-10 (a) as clarified by subsequent
Commission Staff Accounting bulletins. The proved reserves are also in
accordance with Financial Accounting Standards Board Statement No. 69
requirements.

"We are extremely pleased to announce our 2004 year-end reserves
results. With this important information now in hand, we are in a solid
position to complete our financial audits and bring Brek Energy up to
date as a fully reporting company. We also look forward to commenting on
our operations in the very near future," stated Richard Jeffs, President
of Brek Energy.

About Brek Energy Corporation

Brek Energy Corporation is an exploration and development company with
interests in non-conventional oil and gas resources in Texas and the
Rocky Mountains. Its common shares trade under the symbol BREK. For more
information, please visit www.brekenergy.com.

Certain statements contained herein are "forward-looking" statements (as
such term is defined in the Private Securities Litigation Reform Act of
1995). Because such statements include significant risks and
uncertainties, actual results may differ materially from those expressed
or implied by such forward-looking statements. For a discussion of some
of these risks and uncertainties, please refer to the company's SEC
filings, which contain additional discussion about those risk factors,
which could cause actual results to differ from management's
expectations. Brek Energy expressly disclaims any obligation to update
the statements contained herein.

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