Rockefeller Hughes Corporation
TSX VENTURE : RHC

Rockefeller Hughes Corporation

November 21, 2014 08:15 ET

Rockefeller Hughes Provides Company & Operational Update

CONCORD, ONTARIO--(Marketwired - Nov. 21, 2014) - Rockefeller Hughes Corporation (TSX VENTURE:RHC) ("Rockefeller" or the "Company") listed on the TSX Venture Exchange ("RHC"), is pleased to provide the following company and operational update.

Halo Project, Robertson County, Texas: The Company is pleased to announce the closing of an exchange agreement with our partner in the Halo Project in East Texas. Under the terms of the agreement Rockefeller has acquired all our partner's Buda/Georgetown rights in exchange for half of Rockefeller's 50% share of the Eagle Ford rights. As a result of this exchange, Rockefeller will own 95% of the Buda/Georgetown rights (with 5% being owned by a third party) and 25% of the Eagle Ford rights. Rockefeller remains operator in the Buda/Georgetown while our partner becomes operator in the Eagle Ford. As part of the deal, Rockefeller has received cash consideration of US $3,899,850, plus additional acreage and a producing well. Updated working interest and acreage ownership are posted on the Company's website (www.rockefellerhughes.com) and a presentation is available for review.

Part of the Halo Project is the Company's newest well, the Pryor 1H, which was spud earlier this month. This is a dual lateral horizontal well targeting the Buda/Georgetown formations. As of today, the vertical section of the well has been drilled, 7" casing has been run and cemented, and the drilling of the lateral portion of the Buda Formation is scheduled to begin tomorrow. The Company holds a 100% working interest in this well.

Woodbine Project, Leon County, Texas: The Company plans to spud, the Vann #4 later this month. This well will be the first well drilled, in our Woodbine Prospect located in Leon County, Texas. The Company previously announced that it acquired a 35% working interest and operatorship in 1150 gross acres, targeting shallow oil in the Woodbine Sandstone formation in East Texas. In addition to this conventional oil play, there is a potential secondary play, targeting natural gas in the Cotton Valley Limestone Pinnacle Reef Formation. These two formations will be operated by Rockefeller. The oil prospect consists of up to five drilling locations, each with objective target depths of approximately 5500 feet.

About Rockefeller Hughes Corporation

Rockefeller is an emerging junior oil and gas company engaged in the acquisition, exploration, development, and production of oil and gas properties. The Company is listed on the TSX Venture Exchange under the symbol RHC. There are currently 73,406,411 shares issued and outstanding. For additional details please visit Rockefeller's website at www.rockefellerhughes.com.

Forward-Looking Statements

Certain statements contained in this news release constitute forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.

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