HOUSTON, May 5, 2006 (PRIMEZONE) -- Stonebridge Resources Exploration, Ltd., (Pink Sheets:SBRX) is pleased to announce a further update on its 50% interest in the Port Arthur assets that were recently acquired from Christian Intergy. As indicated previously by Stonebridge, it has spent considerable resources in an attempt to increase oil and gas production from its No. 4 well. After initial results, Stonebridge is pleased to report that the production figures from the No. 4 well are significantly higher than previous estimates as a result of the reworking of the well.
The reworking of No. 4 well is proceeding better than expected. Production numbers will be promptly released once the flow rate has been stabilized. Due to positive results on No. 4 well, Stonebridge has negotiated to acquire an additional producing well in the area with similar characteristics. Closing is expected to be completed within 10 days and reworking of the well is expected to commence the following week.
Stemming from the successful reworking of its Port Arthur assets, Stonebridge's management is excited for other prospective opportunities in the Port Arthur area. Management will also continue to actively pursue its acquisition directive, which calls for the ongoing purchase of revenue producing oil and gas assets throughout the United States.
Stonebridge's Port Arthur assets are situated in a prolific oil and gas producing region in Texas which contributes nearly 1.5 and 3.7 percent of the U.S.'s total oil and gas respectively. Located north of Galveston, Port Arthur continues to be an important industry site for oil and gas refineries due to its access to the Gulf of Mexico.
About Stonebridge Resources Exploration Ltd.
Stonebridge Resources Exploration Ltd., http://www.otcsbrx.com, is primarily engaged in the acquisition and development of oil and gas assets in continental North America. Stonebridge intends to continue to acquire in the oil and gas field and hopes to rework the new assets with technology to increase production and expand reserves.
Safe Harbor: The foregoing contains forward-looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, such words as "may," "will," "believes," "estimates," "continue," or comparable terminology intends to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors stated in the Company's filings with the Securities and Exchange Commission.
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CONTACT Stonebridge Resources Explorations
Marc Butti, Investor Relations
(905) 714-9422