HOUSTON, Dec. 12, 2006 (PRIME NEWSWIRE) -- Stonebridge Resources Exploration, Ltd. (Pink Sheets:SBRX) released production numbers from its oil and gas wells located in Port Arthur.
Production for the month of November 2006:
The company is pleased to announce its initial production results on its Well No.4 at Port Arthur, Texas.
"After initial challenges with the completion of Well No.4, we are very encouraged by the first full month's production," stated Phillip Christian, CEO of Stonebridge Resources Exploration.
Well No.4 produced 15,985 mcf of gas and 845.05 BBLS of oil in November 2006.
A revenue of $115,891.25 for gas, and $51,690.75 for oil was realized for the period.
Based on these encouraging results the company is now looking forward to developing the other opportunities on the Port Arthur leases.
About Stonebridge Resources Exploration, Ltd.
Stonebridge Resources Exploration, Ltd., www.otcsbrx.com has embarked on a new direction which is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus has shifted to aggressively acquiring working interests in crude oil and natural gas properties. The company intends to use modern development methods along with improved drilling technologies to increase well production by up to 500%. The company's goal is to achieve a high return on its investment by limiting its acquisition costs and by practicing sound and intelligent approaches to oil and gas exploration and development.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.