RockBridge Resources Inc.

RockBridge Resources Inc.

April 20, 2011 07:18 ET

RockBridge Announces First Closing of Financing and Operations Update

CALGARY, ALBERTA--(Marketwire - April 20, 2011) - RockBridge Resources Inc. (TSX VENTURE:RBE) ("RockBridge" the "Company"), is pleased to announce an initial closing of 3,030,500 Units at $0.14 per Unit for proceeds of $424,270 and has paid agents commission of $33,941.60 and issued 242,440 agent's warrants.

The offering consists of 4,000,000 Units at $0.14 per Unit comprised of one regular Common Share and one-half Common Share Warrant. Each whole Warrant is exercisable to purchase one regular Common Share at $0.25, up to one year from the closing of the offering. The securities issued will be subject to a four (4) month hold period.

Operations Update

RockBridge successfully completed its 100/02- 30-048-3-W5M Horizontal Cardium well in March and due to favorable pre-breakup conditions, the well was equipped, tied-in and commenced production on March 28, 2011. The 1220m horizontal section was successfully fracture stimulated employing a 15 stage oil-based treatment. The initial flow rate for the well was approximately 150 bbls/d oil with no water, and 177 mcf/d of gas, or 180 BOEPD. The well has now stabilized at approximately 60 bbls/d oil with no water, or 67 BOEPD. The Company and its partner are reviewing and analyzing these encouraging results with the goal of further optimizing future drilling and completion procedures.

RockBridge President and CEO, Richard J. Wolfli, stated, "We are encouraged with the results from our first well. The Company's next well will be drilled on our northern land block consisting of 2 gross sections and where the Company holds a 50% working interest. Drilling is anticipated for this coming summer."


RockBridge holds 35.7% to 50% working interests in 4.5 sections in the Pembina Cardium oil field in Alberta. The Company and its partner have identified 15 to 20 low risk horizontal drilling locations on the properties. RockBridge has a 1.0% interest in the expanding Woodrush BC oil project and various non-operated interests in Alberta and British Columbia.

For more information on RockBridge please visit the website at



Richard J. Wolfli, President and CEO

Reference to BOE means barrels of oil equivalent and is derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of gas to one barrel (bbl) of oil. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner top and does not represent a value equivalency at the wellhead. References to BOEPD means barrels of oil equivalent per day.

This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by RockBridge. The forward-looking statements or information contained in this news release are made as of the date hereof and RockBridge does not undertake any obligation to update publicly or revise any forward -looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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

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