Westbridge Energy Corporation

Westbridge Energy Corporation

May 09, 2013 08:00 ET

Westbridge Establishes Strategic Alliance in Nigeria

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2013) - Westbridge Energy Corporation (TSX VENTURE:WEB)(FRANKFURT:PUQ1) ("Westbridge") announced it has entered into a strategic alliance agreement (the "Agreement") with United Oil and Gas Nigeria Limited ("UOG") to jointly acquire and develop near term production and exploration assets (the "Assets") in Nigeria.

UOG is active in the Nigerian upstream oil and gas sector and its management team has over 300 years of combined experience with an established track record of production and development of oil and gas assets in Nigeria. The company was founded by Dr. Ebi Omatsola who has been active in the international oil and gas sector for over 40 years. He has extensive experience in Nigeria, Oman, Ghana, Gabon, Namibia and Kenya with numerous roles including Chief Geologist for Shell Nigeria and New Ventures & Area Geologist for Sub-Saharan Africa for Shell International. Dr. Omatsola currently serves as a Distinguished Advisor to Westbridge and Vice-Chairman of the Conoil Group of Companies based in Nigeria with its production subsidiary - Conoil Producing Ltd. being one of the largest indigenous net oil producers in the country.

"Westbridge is delighted to be working alongside United Oil and Gas Nigeria Ltd.," commented Mark Frewin, Westbridge's Chairman. "Our strategic alliance with UOG will provide Westbridge with world class opportunities and access to outstanding technical, governmental and business experience in Nigeria's oil and gas sector. By developing additional assets alongside UOG, Westbridge will have the potential to create significant value on an accelerated basis for our stakeholders."

Westbridge and UOG will work together to develop assets in Nigeria with UOG providing local technical support, access to financing, development opportunities and infrastructure.

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 Walvis Basin, offshore Namibia. The licenses cover five blocks (1811B, 1911A rel, 1912B, 1910A rel and 2011A rel), which cover over 21,448 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

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "schedule", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company s future operations and prospects. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning equipment and crew availability, and joint venture partner financial capability. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, reservoir performance, labor, equipment and material costs, access to capital markets, interest and currency exchange rates, and political and economic conditions. Additional information on these and other factors is available in continuous disclosure materials filed by the Company with Canadian securities regulators. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the 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.

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