RockBridge Resources Inc.

RockBridge Resources Inc.

June 22, 2011 07:30 ET

RockBridge Corporate Update

CALGARY, ALBERTA--(Marketwire - June 22, 2011) - RockBridge Resources Inc. (TSX VENTURE:RBE) would like to take this opportunity to update its shareholders and stakeholders of numerous matters currently underway and forthcoming.

As initially reported on June 6, 2011, the sale of RockBridge Minerals Inc., the wholly owned subsidiary of RBE (the "Company") wherein a 100 percent of RockBridge's mineral assets were held, has been completed to Cache Exploration Inc. (TSX VENTURE:CAY). RBE now owns 9.05% on a partially diluted basis of Cache Exploration. This marks the completion of the process announced at the beginning of the year to transition RBE into a pure play oil and gas company.

RBE has now begun the process of rationalizing its non-core oil and gas assets which will involve efforts to sell some of its current holdings that do not possess the ability to add materially to the growth of production and reserves for the Company. It is anticipated that this process will take several months.

The Company will focus throughout the rest of the year on its Cardium oil development opportunities and new land positions and prospects that it is investigating. The new assets would involve the Company taking on a working interest of a size such as to make them material in terms of production and reserves additions on success. We hope to have further details on new assets soon.

The Company has also begun a search for merger candidates to increase its enterprise size. We have had discussions with a number of private companies that if merged with RBE could significantly increase our production and reserves. Clearly finding an accretive and affable merger candidate is complex endeavour and one that the Company may not ultimately realize successfully.

RockBridge's CEO and President, Richard Wolfli, stated, "The Company is now in a position where it can focus on adding oil and gas production and reserves in the Western Canadian Sedimentary Basin. We are executing on a three pronged approach: first through organic growth that will include adding new and exciting prospects, second by rationalizing assets to recommit resources to higher impact opportunities, and thirdly by pursuing a corporate level transactions."

About RockBridge

RockBridge has 35% to 50% working interests in 5 sections in the Pembina Cardium field in Alberta. The Company and its partner have identified 22 low risk horizontal drilling locations on the properties. In addition, RockBridge has a 1.0% interest in the expanding Woodrush project and various non-operated interests in Alberta and British Columbia.

For more information on RockBridge, please visit the website at



Richard Wolfli, 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.

Contact Information