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Brinx Resources Resumes Oil and Gas Exploration Program
(OTCBB:BNXR) Brinx Resources Ltd.
Brinx Resources Resumes Oil and Gas Exploration Program
Wednesday January 28, 9:30 am ET
ALBUQUERQUE, NM-Jan 28, 2009 - Brinx Resources (the "Company" or "Brinx") is pleased to report that it has elected to participate in Ranken Energy's 2008-3 drilling program. The program is composed of four separate, 3-D seismically defined prospects with one exploratory well in three of the prospects and two in the fourth prospect.
Targeted pay zones for each of the four prospects include the prolific Bromide Sands, Viola Limestone, Deese Sandstone and Layton Sandstone. One of the wells has very similar geology and structure to the Bromide sands in the successful Owl Creek field previously owned by Brinx. The drilling program has already commenced.
The recent drop in drilling and completing costs within the oil and gas sector has encouraged Brinx to resume its exploration activities. It is anticipated that the successful wells in this program will lead to additional development wells that can be drilled when the market for oil and gas prices recover. These potential well locations and those that already have been identified on Brinx's other two prospects, both of which are still producing economic quantities of oil and gas, should give Brinx ample locations to drill in the future.
About Brinx Resources
Brinx Resources is an expanding exploration company focused on developing 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 Sand Project in Noble County, Oklahoma ; 5% working interest in the Ranken Energy's 2008-3 program; and the Palmetto Point Project in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing project through development or offset drilling and expand its portfolio to include additional interests North America.
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. 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. 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.
For information please contact: Brinx Resources Ltd. Lee Halterman 505.715.6516 http://www.brinxresources.com Source: Brinx Resources Ltd.
Profile for Brinx Resources Ltd.
Brinx Resources, Ltd. engages in the exploration, development, and production of oil and natural gas properties in the Oklahoma, Mississippi, and Louisiana. It also holds interests in undeveloped mineral properties in New Mexico. The company was founded in 1998 and is based in Albuquerque, New Mexico. Detailed BNXR Company Description...
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