Attached files
| file | filename |
|---|---|
| 8-K - Breitling Energy Corp | v211728_8k.htm |
| EX-10.1 - Breitling Energy Corp | v211728_ex10-1.htm |
EXHIBIT
99.1
BERING
EXPLORATION SIGNS AN EXPLORATION AGREEMENT FOR THE DEVELOPMENT OF WEST TEXAS
PROSPECTS
HOUSTON--(PR
NEWSWIRE) February 14, 2011 – Bering Exploration, Inc., (Pink Sheets: BERX)
announced today that it has signed a three year exclusive exploration agreement
with Glaux Oil & Gas, LLC (Glaux) for the development of numerous leads and
prospects in approximately 500,000 gross acres in West Texas. Glaux
has identified approximately 25 leads and prospects in the area and will work
exclusively with Bering to develop these prospects using Glaux’s access to
exploratory leads that were identified using a proprietary aeromagnetic survey
and other advanced oil finding technologies such as telluric and
seismic. Subject to the terms of the agreement, once each of these
prospects is developed Bering will be able to choose whether or not to lease the
mineral rights and proceed to the drilling of the prospect.
“This
exclusive agreement gives Bering a steady supply of new prospects that have been
identified using very unique technology,” stated Steven Plumb, Chief Financial
Officer of Bering. “We are incorporating several exciting
technologies that we believe will allow us to reduce the risks inherent in the
drilling and production of oil and gas wells.
About
Bering Exploration, Inc.
Headquartered
in Houston, Texas, Bering Exploration, Inc. is an independent oil and natural
gas company that focuses on indentifying, evaluating, developing and acquiring
potential natural gas and oil wells in the Gulf Coast onshore region. Additional
information about Bering can be found on the web at www.beringexplore.com.
Safe
Harbor Statement
This
press release contains statements that may constitute forward-looking statements
and are based upon assumptions that management believes to be
reasonable. A number of risks and uncertainties could cause actual
results to differ materially from these statements, including, without
limitation, the success rate of exploration efforts and the timeliness of
development activities, leasing of the target acreage, fluctuations in oil and
gas prices, access to acquisition and development capital, and other risk
factors described from time to time in the Company's reports filed with the SEC.
In addition, the Company operates in an industry sector where securities values
are highly volatile and may be influenced by economic and other factors beyond
the Company's control. For additional information about Bering's future
business and financial results, refer to Bering's Quarterly Reports on Form
10-QSB and Annual Report on Form 10-KSB and other reports, which are on file
with the Securities and Exchange Commission. Bering undertakes no obligation to
update any forward-looking statement that may be made from time to time by or on
behalf of the company, whether as a result of new information, future events or
otherwise.
Contact:
Bering
Exploration, Inc., Houston
Steven
Plumb, 713-780-0806
Investors@beringexplore.com