ALBUQUERQUE, N.M., April 10, 2012 /PRNewswire/ -- Brinx Resources
Ltd. (OTCQB: BNXR) ("Brinx Resources" or "Brinx" or the "Company")
is pleased to provide this corporate update and discussion
regarding the near term prospects of the Company.
Brinx Resources Inc. is an exploration and production company
focused on developing oil and gas resources within the United
States. Brinx is currently producing oil and gas from several
wells drilled and completed with its partners in Oklahoma from 2009 to 2011. The Company
and its partners intend to expand operations in the area and will
potentially drill several additional offset wells to these
currently producing wells throughout 2012.
Also in Oklahoma, Brinx is
participating in the highly prospective Washita Bend 3D Exploration
Project. During 2011, the Company and its partners
successfully completed a 135 square mile 3D seismic program
intended to identify drilling prospects in the area.
Subsequently, data processing, interpretation, mapping, and
prospect delineation has been completed. Currently, the
project operator is finalizing leasing and permitting on a number
of high-grade prospects and estimates that the seismic program may
yield as many as 50 drillable targets. The Company and its
partners intend to commence an initial exploration drill program of
up to ten wells within the next 90 days.
In late 2011, the Company and its partners participated in a
potential new oil and gas discovery at the 10,000 acre King City
Project in California. Drilling and log data from the
discovery well ("SBV-2–32″) indicated two significant intervals
totaling 100 feet which showed promise for the production of
commercial quantities of hydrocarbons. Currently, the project
operators are finalizing preparations to test and complete the
well. The Company has been informed by the project operator
that this well could be completed in Q2 2012 and, if successful,
could result in significant new cash flow and numerous potential
new offset drilling locations. Brinx holds a 20% Working
Interest in the King City Project wells.
"While 2011 was a year of mostly diligent preparation, the
remainder of 2012 is expected to be a time of greatly increased
exploration activity and potentially expanding production
levels. All of our hard work and patience is expected to pay
off very soon in both Oklahoma and
California," stated Ken Cabianca, of Brinx Resources. "With our
current production levels, excellent exploration portfolio, and
strong financial position, we believe that the potential for our
future growth and success is very high. We look forward to
entering this exciting and prosperous chapter in the development of
our Company."
About Brinx Resources
Brinx Resources is an expanding exploration company focused on
developing onshore North American oil and natural gas
reserves. The Company's current focus is on the continued
exploration and development of its land portfolio comprised of
working interests in the Three Sands Project in Noble County, Oklahoma (25 to 40% interest),
other Oklahoma drilling and
production projects (5% interest), a 135 square mile 3D seismic
program in Oklahoma (5% interest),
and the King City Project in California (20% interest). Brinx
Resources is seeking to further develop its existing projects
through development or offset drilling and expand its portfolio to
include additional interests in North
America and internationally.
Investor Contact
LiveCall Investor Relations for Brinx Resources
E-mail: info@brinxresources.com
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002
Safe Harbor Statement: Statements which are not historical facts
are forward-looking statements. The Company makes forward-looking
public statements concerning its expected future operations,
performance and other developments. Such forward-looking statements
are necessarily estimates reflecting the Company's best judgment
based upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors
will not affect the accuracy of such forward-looking statements. It
is impossible to identify all such factors but they include and are
not limited to the existence of underground deposits of commercial
quantities of oil and gas; cessation or delays in exploration
because of mechanical, operating, financial or other problems;
capital expenditures that are higher than anticipated; or
exploration opportunities being fewer than currently anticipated.
The Company has no official gas or oil reserves at this time and
may not have sufficient funding to thoroughly explore, drill or
develop its properties. Factors which could cause actual results to
differ materially from those estimated by the Company include, but
are not limited to, government regulation, managing and maintaining
growth, the effect of adverse publicity, litigation, competition
and other factors which may be identified from time to time in the
Company's public announcements and filings.
SOURCE Brinx Resources Ltd.