SOURCE: Sunrise Energy Resources, Inc.

June 07, 2007 16:56 ET

Sunrise Energy Resources, Inc. Hires Netherland, Sewell & Associates to Prepare the Reserve Report, Updates on Regional Geology

NEW YORK, NY--(Marketwire - June 7, 2007) - Sunrise Energy Resources, Inc. (OTCBB: SEYR) hires Netherland, Sewell & Associates to prepare reserve reports on Karaikozovsk and Rakitnyansk block in Eastern Ukraine. Bobby Long, Chief Technical Officer of the Company, comments on the geological situation of Sunrise Energy Resources, Inc.

"Following the completion of Well #21 of Karaikozovsk field in Eastern Ukraine, we have delineated Karaikozovsk block which allowed us to commission the reserve report on the property. The Company's geologists are currently preparing the information required to conduct the reserve review and we expect the reserve report to be completed in 2007."

Bobby Long, Sunrise's Chief Technical Officer, commented on the structure of Karaikozovsk property, saying, "The key element in this license is a salt dome that historically has provided a focus for the migration and trap of hydrocarbons. Moreover, this license located in Dnepr-Donets Basin of Ukraine is adjacent to a large Sakhalinsk field with the potential reserves of approximately 670 bcfe that also has a salt dome as its key structural element making Sakhalinsk a close analog of Karaikozovsk property. We are also excited about the prospects of Rakitnyansk field which has a relatively simple geological structure and one existing well that tested gas and is current being re-entered."

About Sunrise Energy Resources

Sunrise Energy Resources, Inc., through its wholly owned subsidiaries, Esko Pivnich and Pari, engages in the exploration and production of oil and gas in Ukraine. The Company produces from Karaikozovsk field in the Eastern Ukraine and develops Rakitnyansk, and Rogan properties in the Eastern Ukraine as well as Peremyshlyansk, Chukvinsk, Niklovitsk, Pilipivsk and Sheremetyevsk properties in the Western Ukraine.

This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

Contact Information

  • Contact:
    Sunrise Energy Resources, Inc., New York
    Investor Relations
    Konstantin Tsiryulnikov