DALLAS, TX--(Marketwired - September 12, 2013) -
BRS Resources Ltd. (TSX VENTURE: BRS) is pleased to announce that AleAnna Resources, LLC ("AleAnna"), an Italian exploration company in which BRS holds a membership interest, has executed a participation agreement and non-exclusive seismic agreement with Andiamo Resources, LLC ("Andiamo"), a Colorado limited liability company. Under the terms of the agreements, Andiamo paid AleAnna a prospect/license fee and AleAnna will grant Andiamo a non-exclusive license to AleAnna's propriety 3D seismic data acquired in the Corte dei Signori permit area in the Po Valley of Italy, totaling approximately 32,000 acres (129 sq km). Andiamo will pay the costs to drill a well and in return will earn a beneficial working interest in a portion of the Corte Dei Signori permit.
AleAnna will continue to operate the Corte dei Signori permit and anticipates drilling two exploration wells in 2014. Andiamo has a strong technical team, which will work with AleAnna's technical and operational personnel to develop drilling prospects. Further, Andiamo's entry into this market affirms AleAnna's use of 3D seismic technologies to explore for oil and gas reservoirs onshore Italy as a cost-efficient, technical-effective approach.
ABOUT BRS RESOURCES LTD.
BRS Resources Ltd. is listed on the TSX Venture Exchange under the symbol BRS. BRS is an upstream oil and gas exploration company focused on the Mediterranean region and in particular onshore Italy. BRS's web site is www.brsresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Steven Moore
President/CEO
Phone: 214.276.0373
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.
Disclaimer for Forward- Looking Statements
This press release includes certain "Forward-Looking Statements." Forward-looking statements are statements or projections that involve various risks and uncertainties regarding future events related to the Company's and/or AleAnna's plans. Forward-looking statements in this news release include statements regarding: (i) AleAnna's proposed drilling prospects and the estimated timing of same; (ii) AleAnna's reserve potential and expected economics; (iii) AleAnna's discussions with working-interest partners and participation by other parties in the exploration of its projects; and (iv) AleAnna's future drilling goals generally. Actual results may differ materially from those currently anticipated due to a number of factors beyond the control of the Company and AleAnna. 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, BRS/AleAnna's lack of sufficient financing to proceed with proposed drilling, the continued price and demand for natural gas, BRS's ability to hire and retain personnel necessary to successfully operate its business, the speculative nature of natural resource exploration activities, changes in the operating costs, changes in economic conditions and conditions in the resource, foreign exchange and other financial markets, changes in the investments and exploration expenditure levels, litigation, legislation, environmental, judicial, regulatory, political and competitive developments in areas in which BRS operates, technological, mechanical and operational difficulties encountered in connection with the BRS' activities; and other risk factors detailed in BRS' various filings filed on Sedar at www.sedar.com. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.