RockBridge Energy Inc.

RockBridge Energy Inc.

March 24, 2010 03:01 ET

RockBridge Announces Two New Oil and Gas Discoveries

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - RockBridge Energy Inc. (RockBridge) (TSX VENTURE:RBE) announces two new oil and gas discoveries have been made at the Woodrush project, in which RockBridge has an interest, located in the Peace River Arch of northeastern British Columbia. The operator advises that the first discovery was perforated on March 12, and flowed for four hours at rates as high as 950,000 cubic feet per day during cleanup operations. Gathering lines to the production facility are being laid with production to commence prior to month-end at a production rate anticipated by the operator to be in excess of one million cubic feet gas per day.

The second well was drilled to a newly defined seismic feature north of the original Woodrush oil discovery made in 2008 and was subsequently completed in the Halfway sand and flow tested in excess of 500 barrels of oil per day (bopd) of light sour oil during a 24-hour test. Pipelines are now being laid to the central production facility and production is to commence prior to the end of March at initial rates between 300 and 400 bopd.

The operator reports that this addition boosts the Woodrush gross production to over 1,000 boepd, approximately 50 per cent oil. The operator anticipates that the two new wells drilled and completed will more than double the operating netback from this field and plans additional drilling over the near term.

RockBridge has expanded the land position of 5 of its Pembina oil and gas properties, located southwest of Edmonton, Alberta. The operator has added 2 adjacent properties to the 5 jointly owned with RockBridge in preparation for further development, resulting in RockBridge now holding a 35.71% interest in these pooled properties. The horizontal drilling program for these properties, to include utilizing multi-stage fracturing technology, is on track for the second half of 2010.

RockBridge President, Gary Mathiesen, stated "We are extremely pleased with the continuing successful development of the Woodrush project and the increasing monthly cash flow. We are particularly looking forward later this year to the horizontal drilling program for the further development of the Cardium formation of the Pembina properties."

Gary Mathiesen added "Not only are we expanding our oil and gas assets significantly, but we are now also underway on our highly prospective rare earth prospect. Clearly this is a period of potentially rapid growth for the company and with only 26 million shares outstanding, management feels that RockBridge is in now positioned to potentially increase shareholder value going forward."

About Rockbridge

RockBridge has a diversified and broad resource base including 27 Newfoundland mineral claims prospective for rare earth elements with its 2010 work program underway, 6 B.C. mineral claims and 9 Yukon mineral claims prospective for gold, together with varying interests in 19 oil and gas wells and properties in Alberta and B.C. including the Pembina properties slated for development this year and the continually expanding Woodrush project.

For more information on RockBridge, please visit the website at



Gary Mathiesen, President and CEO

This news release may include statements about expected further events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. RockBridge cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what RockBridge currently foresees. Discussion on the various factors that may affect future results is contained in RockBridge's recent filings, available on SEDAR.

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

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