HOUSTON, April 18, 2013 (GLOBE NEWSWIRE) -- Bering Exploration, Inc., (OTCBB:BERX) announced today that it has completed the installation and testing of the production equipment at the LeJeune No. 1 well, in the N. Edna prospect. This will allow the Company to tie into the pipeline system of the first purchaser of our production. The well is producing at 400 mcf of natural gas per day. Bering owns a 78% net revenue interest in the production. This 384 acre prospect is located in Jefferson Parish, Louisiana and has potential gross reserves of the equivalent of 1 million barrels which, based upon today's prices, equates to a gross value of more than $85 million dollars.
"This installation of the production equipment, combined with the pipeline installation by our first purchaser, provides Bering with a consistent source of revenues," stated Steven Plumb, VP of Finance of Bering, "and will enable us to begin seeking capital for additional drilling efforts."
About Bering Exploration, Inc.
Headquartered in Houston, Texas, Bering Exploration, Inc. is an independent oil and natural gas company that focuses on identifying, 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, achieving economically viable wells, 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-Q and Annual Report on Form 10-K 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.