Bridge Resources Corp.
TSX VENTURE : BUK

Bridge Resources Corp.

March 04, 2008 09:00 ET

Bridge Resources Corp. Announces Option for Acquisition of Durango Royalty

CALGARY, ALBERTA--(Marketwire - March 4, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Bridge Resources Corp. ("Bridge") (TSX VENTURE:BUK) on behalf of its U.K. wholly-owned subsidiary Bridge North Sea Ltd. is pleased to report that it has reached agreement to purchase the 8% royalty on Blocks 48/21a and 48/21b from Warwick Energy Limited ("Warwick"). The blocks contain the Durango gas prospect that is currently being appraised by the 100% working interest 48/21a-4 well, currently drilling below 20" casing.

Under the terms of the agreement, Bridge will pay Warwick a Pounds Sterling 1,000,000 non-refundable deposit in return for the right to purchase the royalty outright for an incremental Pounds Sterling 2,000,000 payment prior to June 30, 2008.

The purchase would realize 3.4 bcfe contingent resources to Bridge based on the current P50 Durango contingent resources estimate of 42.4 bcfe. The Pounds Sterling 3,000,000 purchase price equates to 8.8p/therm ($1.76/mcf). There are no incremental capital costs associated with a royalty purchase.

This news release may contain forward-looking statements based on assumptions and judgments of management of Bridge regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Bridge disclaims any intention or obligation to revise or update such statements except as may be required by law.

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

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