FOR IMMEDIATE RELEASE: September 5, 2007
Piceance Basin Well Contains 263� Net Pay
TORONTO, Ontario (September 5, 2007)
� Brownstone Ventures Inc. (TSXV: �BWN�) (�Brownstone�) announces that its joint venture partners, Dejour Enterprises Ltd. (TSXV: �DEJ� and AMEX: �DEJ�) (�Dejour�) and Retamco Operating Ltd., have advised that the H & P Rig #159 has been released from the North Barcus Creek #1-12 well where logging operations and the setting of production casing were successfully completed. Brownstone (together with Dejour) engaged Gustavson Associates, Boulder Co. (Geologists � Engineers � Appraisers) to conduct a preliminary petrophysical analysis of the #1-12 well logs, who have reported to Brownstone and Dejour that it is their interpretation that there exist reservoir properties consisting of an estimated 263 feet of potential net pay with average porosity of 10%.
Throughout drill operations the mud log showed strong evidence of reservoir gas. The H&P Rig #159 is in the process of relocating and rigging up to drill the nearby North Barcus Creek #2-12 well (within approximately 1,800 feet of the #1-12 well) to be deepened to a projected TD of 11,425�. Drill operations should be concluded around the end of September 2007.
About Brownstone
Brownstone Ventures Inc. is a well-financed Canadian-based, energy focused investment company with direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah, 295km
2 in the Assam/Arakan Basin, Northeast India and 253,000 acres in Rio Negro, Argentina. For additional information, please see Brownstone's website: www.brownstoneventures.com.Statements in this release that are forward-looking statements, including those in respect of the drilling program for the North Barcus Creek wells, are subject to various risks and uncertainties including the specific factors disclosed under the heading �Risk Factors� and elsewhere in the Corporations� periodic filings with Canadian securities regulators. Such information contained herein represents management�s best judgment as of the date hereof based on information currently available. The corporation does not assume the obligation to update any forwardlooking statement, except as required by law.
For further information, please contact:
Richard Patricio
Vice-President Corporate and Legal Affairs
Brownstone Ventures Inc.
(416) 941-8900
info@brownstoneventures.com
www.brownstoneventures.com
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.
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Brownstone Energy Inc.
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EXPLORATION STAGE |
CODE : BWN.V |
ISIN : CA1161411022 |
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Brownstone Energy is a exploration company based in Canada. Brownstone Energy produces natural gas and oil in Colombia. Its main asset in production is CANAGUARO in Colombia and its main exploration property is PICEANCE in Colombia. Brownstone Energy is listed in Canada. Its market capitalisation is CA$ 3.9 millions as of today (US$ 3.1 millions, € 2.8 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 3.54, and its lowest recent point on February 13, 2015 at CA$ 0.01. Brownstone Energy has 129 789 992 shares outstanding. |