BRS Resources Ltd. is pleased to offer the following corporate update detailing its upcoming op-erational plans and activities. BRS Resources is an upstream oil and gas exploration and produc-tion company focused on the Mediterranean region. Currently, BRS owns a 25% after-payout in-terest in AleAnna Resources, LLC, an active exploration and production company based in Italy, and is AleAnna’s operational partner, providing AleAnna with technical and managerial manpower and resources.
DALLAS, TEXAS – June 16, 2014: BRS Resources Ltd. (“BRS”) (TSX.V: BRS) is pleased to offer this corporate update describing its upcoming operational plans and activities. BRS Resources is an upstream oil and gas exploration and production company focused on the Mediterranean region, primarily onshore Italy. Currently, BRS owns a 25% after-payout interest in AleAnna Resources, LLC, an active exploration and production company in Italy, and acts as AleAnna’s operational partner, providing AleAnna with technical and managerial manpower and resources.
Russia recently signed a major $400-billion gas deal with China, and now Japan appears to want in on the action as well.
Bloomberg reported that a group of 33 lawmakers in Japan is pushing the government to build a $5.9-billion pipeline to the island nation from Russia.
Japan has considered a pipeline connection with Russia for roughly a decade, but supporters have ramped up their interest in the project since the closure of Japanese nuclear reactors after the disaster at Fukushima in 2011.
The energy spotlight is on Europe as it begins shale exploration. Will Europe find the same success story as the US?
European shale gas potential
Shale resources are believed to be present in at least 14 countries across Europe, though no shale gas play has yet been brought into production. Three-quarters of estimated European shale gas reserves are concentrated in just four countries: Russia, Poland, Ukraine and France.
The European Union may have given North American oil and natural gas producers the cold shoulder in the past, but now European countries could be considering cross-Atlantic suppliers as one possible alternative to Russian gas supplies.
Europe is assessing its options in the wake of two massive price increases for Russian natural gas for the Ukraine last week. Prices increased from $285 to $385 per thousand cubic metres after the country failed to meet debt repayments to Russia, then rose again to $485 per tcm after Russia retracted a $100 discount following a cancelled Black Sea Naval hosting agreement, according to Reuters. If the Ukraine keeps failing to make payments, Russia’s Gazprom can cut off natural gas flows altogether, as it did in 2009.
DALLAS, TEXAS – February 3, 2014: BRS Resources Ltd. (“BRS”) (TSX.V: BRS) reported in December 2013 that Po Valley Energy Ltd. (“PVE”) had completed rig-less well testing of its newly drilled Gradizza-1 discovery well (the “Gradizza Well”). PVE and its farm-in partners, which include AleAnna Resources, LLC (“AleAnna”), have agreed to apply for a Production Concession and anticipate filing the Production Concession Application in early February 2014. BRS holds an interest in the Gradizza Well through its ownership in AleAnna.
DALLAS, TEXAS–December 04, 2013
BRS Resources Ltd. (“BRS”) (TSX.V: BRS) is pleased to announce that Po Valley Energy (“PVE”) completed well testing of its Gradizza-1 discovery well. PVE drilled and tested the well in September and scheduled additional tests in November. On November 20, the well tested natural gas at a stabilized rate of 696,000 cubic feet per day with 492 psi flowing tubing pressure on a ¼-inch choke.
DALLAS, TEXAS–October 23, 2013: BRS Resources Ltd. (“BRS”) (TSX.V: BRS) is pleased to announce that AleAnna Resources, LLC (“AleAnna”), an Italian exploration and production company in which BRS holds a membership interest, has identified at least four drillable natural gas prospects on its Ponte del Diavolo permit within 3 miles of Po Valley Energy’s (“PVE”) Gradizza-1 discovery well. AleAnna has already submitted a drilling permit application for its Tombellina prospect, also located in its Ponte del Diavolo permit, approximately 3.5 miles southwest of the Gradizza discovery. AleAnna anticipates drilling at least one of these prospects in the next 12 months.