Brinx Resources Provides Corporate Update for 2013

DENVER, May 6, 2013 /PRNewswire/ -- Brinx Resources Ltd. (OTCQB: BNXR) ("Brinx Resources" or "Brinx" or the "Company") is pleased to provide this corporate update and discussion regarding the near term prospects of the Company.

Brinx Resources is an exploration and production company focused on developing oil and gas resources within the United States and internationally.  Brinx is currently producing oil and gas from several wells drilled and completed with its partners in Oklahoma from 2009 to 2011. The Company's current focus remains in Oklahoma, as the long awaited and newly named Oklahoma-2013 Project is about to initiate a new multi-well drilling campaign. An outline of these projects as well as information on previous projects is as follows:

Oklahoma-2013.

As previously announced in 2010, Brinx and its partners entered into an agreement to participate in a significant 3d Seismic Exploration Project. The completion of the shoot and the subsequent analytics and evaluations were completed in 2011. Since this time, Brinx and its partners have been engaged in a leasing and land acquisition process that has taken much longer than expected. However, the project has now advanced such that initial drill targets have been confirmed, and the commencement of drilling is imminent.

Specifically, as a result of seismic analytics and evaluations Brinx and its partners have now identified and confirmed eight initial prospects that will constitute Phase-1 of the Oklahoma-2013 Project. The drilling of the first well (OK-13-1) is expected to being this week, and further drilling of the remaining 7 wells is expected to continue throughout the summer. Brinx will be updating performance and upcoming drill dates for all aspects of Phase-1 with regularity as the project proceeds.

The drilling objectives at Oklahoma-2013 are to potentially target 2nd Wilcox sand, 1st Wilcox sand, Trenton dolomite, Simpson dolomite, Viola limestone, Hunton limestone, Bartlesville sand and Redfork sand. In addition to locating and developing new productive structures from the sands, dolomites and limestones mentioned above, it is also believed that deeper productive structures could be found in the Tulip Creek sand, McLish sand, Oil Creek sand, Joins sands and Arbuckle limestone.

Oklahoma-2009-2011

Brinx is currently producing oil and gas from several wells drilled and completed with its partners in Oklahoma from 2009 to 2011. These projects continue to provide revenue to the company, and are expected to do so for the foreseeable future. The most notable results from these projects are as follows: Brinx maintains a 5% working interest in the Okalahoma-2009 program. As of October, 2013 total production from the two producing wells at this project totaled 134,474 Bbls of oil and 34,999 Mcf of natural gas. Total production from these two producing wells for the three months ending January 31, 2013 totaled 206 Bbls of oil and nil Mcf of natural gas. Brinx maintains a 5% working interest in the Okalahoma-2010 program. As of October, 2013 total production from the two producing wells at this project totaled 104,007 Bbls of oil and 19,519 Mcf of natural gas. Total production from these wells for the three months ended January 31, 2013 was 407 Bbls of oil and 123 Mcf of natural gas.

California - King City

In late 2011, the Company and its partners participated in a potential new oil and gas discovery at the King City Project in California.  Drilling and log data from the discovery well ("SBV-2–32″) initially indicated potential promise for the production of commercial quantities of hydrocarbons. However, as a result of further and in-depth evaluation and consultation, Brinx has elected not to participate any further at King City as it deems the project not to be economically viable and is currently being plugged.

Summary

The primary agenda for Brinx moving forward in 2013 will be two-fold. First, and of primary importance will be the continued maturation of the Oklahoma-2013 Drill Program. The Company has been patiently awaiting commencement of the drilling program, and will now focus it resources towards development and production at this highly regarded project. Secondly, the Company will focus on the advancement and development of its portfolio with an eye towards new opportunities both domestically and internationally. The Company has potentially identified several projects of interest, and will continue to further discussions and negotiations in this regard.

"With the news that drilling is about to begin at the new Oklahoma-2013 Drilling Program there is a re-invigorated enthusiasm for this exciting and hopefully prosperous chapter in the development of our Company," stated Ken Cabianca, of Brinx Resources. "There is no question that the process of developing this project has taken longer than expected, but all the hard work and patience is expected to pay off now that the commencement of drilling is imminent. Furthermore, the Company continues to pursue new opportunities with the intent to expand the Company's portfolio in order to advance the revenue stream and provide value to its shareholders."

About Brinx Resources

Brinx Resources is an expanding exploration company focused on developing onshore North American oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its current land portfolio in Oklahoma, as well as the drilling and production of the new Oklahoma-2013 Project (5% interest). Brinx Resources is seeking to further expand its portfolio to include additional interests in North America and internationally.

Investor Contact

LiveCall Investor Relations for Brinx Resources
E-mail: [email protected]
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002

Safe Harbor Statement: 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. 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. 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.

SOURCE Brinx Resources Ltd.