Brownstone and Dejour Close $20MM Kokopelli Development JV

Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) (the "Company" or
"Brownstone") announces that it and its joint venture partner, Dejour Energy
Inc., have formed a joint venture with a private U.S. based oil and gas company
to develop the Kokopelli leasehold in the Piceance Basin region of Colorado on
behalf of Brownstone and its partner. The joint venture will initially focus on
developing production from the liquids-rich Williams Fork formation on
Brownstone's southern leasehold with the expectation of drilling a minimum of 8
wells to at least the base of the Williams Fork gas/liquids bearing zone and
obtaining an approved Surface Utility Agreement, currently being developed in
consultation with the BLM and CPW, for the 1520-acre north lease. 


Brownstone will be carried for 10% of a $16 million in drilling, completion and
permitting expenditures beginning in August 2014. It is anticipated this funding
will carry Brownstone through a minimum of eight new wells and extensive
facility development on Kokopelli's southern leasehold where four natural gas
wells drilled in 2013 are currently in production. The Company retains a 10%
working interest in the ongoing Kokopelli joint venture.


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.


About Brownstone 

Brownstone Energy Inc. is a Canadian-based, energy focused company with direct
interests in oil and gas exploration projects, including varying interests in
two off-shore Israel concessions, as well as other oil and gas interests
worldwide. By owning and managing a diversified portfolio of energy-based
projects, Brownstone provides shareholders with a unique energy alternative. For
additional information, please see Brownstone's website:
www.brownstoneenergy.com. 


Cautionary Statements

This news release contains forward-looking information and forward-looking
statements within the meaning of applicable securities laws (together,
"forward-looking information"). The use of any of the words "expect",
"anticipate", "continue", "estimate", "believe", "plans", "intends",
"confident", "may", "objective", "ongoing", "will", "should", "project",
"should" and similar expressions are intended to identify forward-looking
information.


The forward-looking information is based on certain key expectations and
assumptions made by the Company, including expectations and assumptions
concerning the operational results in the U.S.A. Although the Company believes
that the expectations and assumptions on which the forward-looking information
are based are reasonable, undue reliance should not be placed on the
forward-looking information because the Company can give no assurance that they
will prove to be correct.


Since forward-looking information addresses future events and conditions, by its
very nature it involves inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to, the inherent risks involved in
the exploration and development of oil and gas properties, the uncertainties
involved in interpreting drilling results and other geological data,
uncertainties relating to fluctuating oil and gas prices, the possibility of
cost overruns or unanticipated costs and expenses and other factors including
unforeseen delays. Anticipated exploration and development plans relating to the
Company's properties are subject to change.


The foregoing list of assumptions, risks and uncertainties is not exhaustive.
The forward-looking information contained in this press release is made as of
the date hereof and Brownstone undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brownstone Energy Inc.
Gerry Feldman
CFO
(416) 941-8900
Feldman@brownstoneenergy.com


Brownstone Energy Inc.
Richard Patricio
Vice-President Corporate and Legal Affairs
(416) 941-8900
info@brownstoneenergy.com
(TSXV:BWN)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024