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WKN: A0JL8M
Kürzel: S3C
Stonebridge Resources Exploration, Ltd. (SBRX) Plans to Exercise Option to Double Size of Kansas Oil and Gas Lease Properties - Company Expects Oil & Gas Reserves to Double
2007-11-28 11:29 ET - News Release
HOUSTON, TX -- (MARKET WIRE) -- 11/28/07
Stonebridge Resources Exploration, Ltd. (PINKSHEETS: SBRX) (S3C: GR), a diversified energy company specializing in the development and acquisition of oil and gas assets, reports that management plans to exercise its option to double the size of the company's existing Kansas located oil and gas lease properties. The option would include properties located in close proximity of the existing oil and gas leases that Stonebridge operates. The existing oil and gas properties possess approximately 19-20 bcf of gas reserves in addition to averaging 80-85 bopd reserves. Stonebridge is confident that based on the similar characteristics of the newly acquired lease properties that reserves for both oil and gas should double to 38-40 bcf and 160-170 bopd respectively. At present the Kansas located properties have 2 million barrels of oil reserves and expect those rates to double to 4 million (approx.) with the newly acquired lease properties. Oil prices reached close to $99 a barrel on Monday due to rising demand and limited supply, the colder weather in the U.S. and Europe, and the weakening U.S. dollar. Natural gas prices hover around the $7-7.50 range with financial analysts expecting rates to be as high as $8.15 by January 2008.
About SBRX (www.otcsbrx.com)
Stonebridge Resources Exploration, Ltd., is primarily engaged in the acquisition and development of oil and gas assets in continental North America. The company is aggressively implementing a acquisition based model and intends to continue to improve all holdings and enhance production wherever available with new technologies.
Forward Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Contact:
Steven Christian
Stonebridge Resources Exploration Ltd.
281-894-6300
steve@christianintergy.com
www.otcsbrx.com
