SOURCE: BRS Resources Ltd.
DALLAS, TX--(Marketwire - Aug 14, 2012) - BRS Resources Ltd. (TSX VENTURE: BRS) ("BRS" or the "Company") announced today that AleAnna Resources LLC ("AleAnna"), the Company's Italian operator, has completed a 3-D geophysical data acquisition survey on the Ponte dei Grilli permit area located in the Po Valley of Italy.
AleAnna now turns its operational emphasis from data acquisition to drilling. Numerous drilling prospects have been identified from processing and interpreting 3-D geophysical data acquired during recent surveys. A number of applications for drilling permits will be filed with the Italian government beginning in September.
AleAnna has completed three large-scale 3-D geophysical surveys, acquiring more than 100,000 acres (400 sq km) of data in northern Italy and developing the largest portfolio of 3-D geophysical data for onshore Italy. The processed and interpreted data is critical in identifying and mapping large, drillable subsurface geological structures containing commercial quantities of hydrocarbons.
"We are very excited with the drilling prospects generated by AleAnna's exploration program," commented Steven Moore, president and CEO of BRS Resources. "We expect the pace of our E&P activities to increase substantially in the coming months as Italy's current political climate continues to improve. The current government led by Prime Minister Mario Monti has passed a growth package that includes legislation aimed at doubling Italy's domestic oil and gas production."
AleAnna has eight Exploration Permits and three Applications for Exploration Permits, totaling more than 800,000 acres (3,250 sq km), approved by the Italian Ministry of Economic Development. The majority of the acreage is located in Italy's Po Valley, Europe's second largest onshore gas province, where trillions of cubic feet of natural gas have been produced and where significant infrastructure is in place.
ABOUT BRS RESOURCES
BRS Resources is listed on the TSX.V Exchange under the symbol BRS. The Company is an independent international oil and gas company focused on the development and production of oil and natural gas reserves, primarily in Italy and the surrounding Mediterranean area. BRS owns a seventeen percent (17%) membership interest in its operator, AleAnna Resources LLC, a company focused on the Italian energy market.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve Moore President/CEO Phone: 214-699-9470
Neither the 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.
This press release includes certain "Forward-Looking Statements." Words such as "grow," "fullest potential," and words of similar import also identify forward-looking statements. Forward-looking statements in this news release may include statements about when and where BRS/AleAnna will be operating, and when BRS/AleAnna's exploration activity will take place. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, any negative change in the law, regulatory or political environment which would negatively affect BRS/AleAnna's ability to obtain permits necessary for drilling, and other factors beyond the Company's or AleAnna's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.