VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2012) - Statesman Resources Ltd. (TSX VENTURE:SRR) (the "Company") announces, further to its news release of November 8, 2012, that the Competent Persons Report (the "Report" or "CPR") entitled Prospective Resources Assessment of the Assets of Statesman Resources Ltd. in Block 14, Republic of the Sudan has now been filed on SEDAR and may be viewed at www.sedar.com. The Report produced by independent consultants, Senergy (GB) Limited, concluded that there is potential in Block 14 for a portfolio of prospects that could have a gross un-risked prospective resource of 1.5 billion barrels.
About Senergy GB Limited
Senergy (GB) Limited ("Senergy") is a leading global provider of diversified energy consulting services. Senergy was established in 1990, with offices in Aberdeen, London, Stavanger, Abu Dhabi, Perth and Kuala Lumpur. Senergy specializes in petroleum reservoir engineering, geology and geophysics and petroleum economics. All of the services are supplied under an accredited ISO 9001 quality assurance system.
Definitions and Cautionary Statements
Prospective resources are those quantities of petroleum which are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
About Statesman Resources Ltd.:
Statesman's principal asset is a 50.1% shareholding in Statesman Africa Limited which in turn beneficially holds a 75% working interest in the Block 14 Exploration and Production Sharing Agreement with the Government of the Republic of the Sudan. Statesman also has a 75% working interest in approximately 20,000 acres in Kansas, small interests in oil and gas leases in California and is focussed on growing its asset base through the new venture program in North America and Africa.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Neither 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.