Westbridge Energy Corporation

Westbridge Energy Corporation

June 26, 2013 09:00 ET

Westbridge Energy Corporation Completes Acquisition of Additional Licences in the Walvis Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2013) - Westbridge Energy Corporation (TSX VENTURE:WEB)(FRANKFURT:PUQ1) ("Westbridge") today announced that it has completed the previously announced acquisition of a 75% interest with Ropat Petroleum Investments (PTY) Ltd. ("Ropat") in the oil and gas exploration blocks 1910A Relinquished, 1911A Relinquished, 1912B and 2011A Relinquished (the "Licenses") offshore Namibia (the "Transaction") on June 25th 2013. The Transaction increases Westbridge's total contiguous acreage in the Walvis Basin, offshore Namibia by 284% to 22,484 square kilometers.

"Namibia is experiencing a resurgence of interest from major oil companies and junior explorers alike with near term, multiple drilling campaigns proximate to Westbridge's blocks. This acquisition positions Westbridge as the second largest acreage holder in the now proven, oil prone, Walvis Basin," stated Tosan Omatsola, CEO of Westbridge Energy. "The Licenses are an extension to our existing Block 1811B and more importantly contain oil shows in the 1911/15-1 well drilled on the Licenses in 1994. Westbridge's 5 Blocks are approximately 180 kilometers north of the recent technical discovery in the Walvis Basin by a Brazilian independent oil company, which demonstrates a potentially extensive and working petroleum system between the 2 wells."

Following the close of the Transaction, Westbridge will be the operator of the Licenses with a 75% interest. Ropat will have a 15% carried interest and the remaining 10% will be a carried interest held by NAMCOR, the Namibian state oil company. Ropat is a private oil and gas company incorporated in Namibia.

About Westbridge

Westbridge Energy Corporation is an international oil and gas exploration and development company with a robust portfolio of oil and gas licenses in the vastly underexplored and highly prospective, oil prone Walvis Basin, offshore Namibia. The licenses cover five blocks (1811B, 1911A Rel., 1912B, 1910A Rel. and 2011A Rel.), which cover 22,484 square kilometers and contain over 10,000 line kilometers of high quality 2D seismic data. Westbridge is Operator of the licenses and has an 80% working interest in 1811b and a 75% working interest in the remaining four licenses.

For additional information readers are invited to review additional corporate and property information available on SEDAR at www.sedar.com and Westbridge's website at www.westbridgeweb.com.

Forward-Looking Statements

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