BRS Resources Announces Italian Seismic Program
14 Mars 2011 - 5:15PM
Marketwired
BRS Resources Ltd. (TSX-V: BRS) announced today that AleAnna
Resources, LLC, in which BRS Resources owns a membership interest,
has contracted with Geotec SpA to perform a 3D seismic program on
its Ponte dei Diavolo permit area in Po Valley of Italy. The Ponte
dei Diavolo permit area, located southwest of Venice, covers an
area of approximately 50,000 acres (200 sq km) with numerous
natural gas exploration targets on trend with large existing gas
fields. The seismic program will cover (156 sq km) approximately
39,000 acres and should begin in the next 30 to 45 days.
AleAnna was the first company to carry out a significant 3D
seismic program onshore Italy. In March 2009, AleAnna completed a
31,100 acre (126 sq km) 3-D seismic survey in the Corte Dei Signori
Permit area, which is located east of the Ponte dei Diavolo permit
area. A number of prospects were generated from this data and a
drill location within the Gallare Field was selected as the first
drill location. AleAnna anticipates drilling the Gallare well
during the first half of 2011.
"It's a great time to be participating in the development -- or
re-development -- of Italy's indigenous natural gas resources,"
commented Steve Moore, president and CEO of BRS Resources. "I
consider AleAnna and BRS as early entrants to the re-emergence of
the Po Valley."
ABOUT BRS RESOURCES
BRS Resources is listed on the TSX.V Exchange under the symbol
BRS. The Company is an independent international oil and gas
company focused on the development and production of oil and
natural gas reserves. BRS owns a 7% membership interest (17% after
payout) in AleAnna, an oil and gas exploration and production
company operating exclusively in Italy. AleAnna has eight
"Exploration Permits" and three "Applications for Exploration
Permits," totaling more than 800,000 acres (3,250 sq km), approved
by the Italian Ministry of Economic Development (General
Directorate for Energy and Mining Resources, National Mining Office
for Hydrocarbons and Geothermics). The majority of the acreage is
located in Italy's prolific Po Valley, Europe's second largest
onshore gas province, where historically 27 trillion cubic feet of
natural gas (Tcf) have been produced and where significant
infrastructure is already in place.
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.
This press release includes certain "Forward-Looking
Statements." Words such as "anticipates," "should," and words of
similar import also identify forward-looking statements.
Forward-looking statements in this news release may include
statements about when and where BRS/AleAnna will be operating, and
when BRS/AleAnna's exploration activity will take place. Actual
results may differ materially from those currently anticipated due
to a number of factors beyond the Company's control. These risks
and uncertainties include, among other things, any negative change
in the law, regulatory or political environment which would
negatively affect BRS/AleAnna's ability to obtain permits necessary
for drilling, and other factors beyond the Company's or AleAnna's
control. These forward-looking statements are made as of the date
of this news release and, except as required by applicable laws,
the Company assumes no obligation to update these forward-looking
statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.
For further information, please contact David Russell Director
of Investor Relations/Corporate Communications 214-699-9470 Email
Contact
BRS Resources (TSXV:BRS)
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