Brownstone Energy Inc.
TSX VENTURE : BWN
OTCQX : BWSOF

Brownstone Energy Inc.

October 04, 2011 17:00 ET

Brownstone Energy and Operator Receive Approval to Commence Development of Gibson Gulch, Piceance Basin, Colorado

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2011) - Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or the "Company") today announces that it has been advised by the operator, Dejour Energy Inc. (NYSE Amex:DEJ)(TSX:DEJ), that they have received approval from the Bureau of Land Management ("BLM") to commence development on the jointly owned federal leases located in the Piceance Basin near Glenwood Springs, Colorado. The permits received today allow them to prepare access roads, construct a drilling pad and drill the first four of a proposed eight well first phase development of this liquid-rich gas project. Brownstone has a 28% interest in these federal leases.

About Brownstone

Brownstone Energy Inc. is a Canadian-based, energy focused company with direct interests in oil and gas exploration projects, including varying interests in three off-shore Israel concessions and in four Colombian blocks in the Llanos basin, as well as other oil and gas interests worldwide. By owning and managing a diversified portfolio of energy-based projects, Brownstone provides shareholders with a unique energy alternative. For additional information, please see Brownstone's website: www.brownstoneenergy.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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