SOURCE: BRS Resources Ltd.

BRS Resources Ltd.

April 12, 2012 09:30 ET

BRS Resources Releases Update on Italian E&P Activities

DALLAS, TX--(Marketwire - Apr 12, 2012) - BRS Resources (TSX VENTURE: BRS) announced today that the company is accelerating its exploration and drilling activities in Italy through its 17.35% ownership interest in AleAnna Resources, one of the largest independent exploration and production companies operating in Italy.

Several potential drilling locations have been identified from detailed analysis of 3D seismic data acquired by AleAnna on the Corte dei Signori permit in the spring of 2009 and on the Ponte del Diavolo permit acquired in fall of 2011. Both of these permit areas are in the Po Valley region of Northern Italy.

In addition to the two previously mentioned 3D surveys, AleAnna announced today it will commence acquisition of a new 3D seismic survey on its Ponte dei Grilli permit area. Ponte dei Grilli is considered highly prospective because it is on trend with nearby natural gas production, with neighboring infrastructure such as pipelines, gas storage facilities and power plants already in place.

"AleAnna has the largest portfolio of newly acquired 3D seismic data in all of Italy. Combine this portfolio of 3D data with AleAnna's significant land position and you can see why we're so excited about AleAnna's potential," remarked Steven Moore, president of BRS Resources. "AleAnna is positioned to strengthen Italy's domestic gas market through successful exploration and production of hydrocarbons. High-priced natural gas and an ongoing strong demand for energy supplies continue to make Italy an attractive market for BRS Resources and its shareholders."

AleAnna has assembled more than 800,000 acres (3,200 sq km) in Italy and has acquired 65,000 acres (260 sq km) of new 3D seismic data over the Corte Dei Signori and Ponte del Diavalo permit areas, with an additional 18,800 acres (76 sq km) of 3D seismic acquisition commencing immediately in the Ponte dei Grilli permit area. AleAnna expects to file new drilling permits with the Italian government within the next 60 to 90 days.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

Steven 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.

Contact Information

  • For further information, please contact:
    David Russell
    Director of Investor Relations/Corporate Communications
    214.699.9470
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