brs resources april operational update

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  • 1.Italian OpportunityApril 2013

2. BRS ResourcesUnlocking Italys Onshore Oil & Gas PotentialBRS Resources (TSX.V: BRS), anupstream oil and gas explorationcompany focused on the Mediterraneanregion and in particular onshore Italy,owns a membership interest in AleAnnaResources, one of the largestindependent oil and gas exploration andproduction companies operating in Italy.AleAnna has built a presence in Italywith eight exploration permits and threeapplications permits in the Po Valleyand Bradano basins, encompassing atotal of 804,000 acres. In the Po Valley,AleAnna holds seven explorationpermits and two applications for permits.Po ValleyBradano Basin 3. PO VALLEYITALYAleAnna ResourcesPo Valley Permit Areas 4. AleAnna ResourcesEastern Po Valley Permit AreasAleAnna has now completed three 3D seismic surveys covering portions of three permitareas in the eastern Po Valley Corte dei Signori, Ponte del Diavolo, and Ponte dei Grilli. Withsurveys covering more than 87,000 acres (353 sq km), AleAnna is the leading onshorecompany in Italy in gathering, processing and interpreting 3D seismic data using advancedgeophysical technologies. This data has identified numerous drillable prospects and leadswith excellent reserve potential and compelling expected economics.3D Seismic InventoryCorte dei Signori 33,606 acres (136 sq km)Ponte del Diavolo 34,842 (141 sq km)Ponte dei Grilli 18,286 (76 sq km)AleAnna also has two applications for permit areas Le Saline and Tre Ponti in eastern Po Vally,pending Italian government approval. 5. AleAnna ResourcesCorte dei SignoriCorte dei Signori 3D Survey33,606,acres (136 sq km)Corte dei SignoriProspect Inventory (Jan.2013)The exploration permit was awarded on March 28, 2008.In 2009 the company acquired 33,606 acres (136 sq km)of high resolution 3D seismic. This data allows a betterdefinition of the existing hydrocarbon traps in the Plio-Pleistocene age and older rock sections. Based on thesenew data AleAnnas technical group has identified severalprospective areas in the block.The Company drilled its first well on the permit area inMarch 2012 and was deemed commercially unsuccessful.The Company plans to submit additional drillingapplications.Corte dei Signori Fast FactsAwarded March 28, 2008Surface Area 61,282 acres (248 sq km)3D Seismic Acquired 33,606 acres (136 sq km)3D Seismic ReprocessingPSTM / PSDM CompletedAVO Near CompletionProspect Inventory In ProcessInterpretation OngoingDrilling Plan Q2 2014 6. AleAnna ResourcesPonte del DiavoloThe Ponte del Diavolo exploration permit, with an areal extentof 49,421 acres (199 sq km), was awarded on February 2, 2009and is located to the west of AleAnnas Corte dei Signori permit.The exploration targets in this area are the accumulations ofgas within the Plio-Pleistocene age turbiditic sands of theApennines foredeep. This block is on trend with large gasfields, making this exploration permit very attractive.In 2011 thecompany acquired 34,842 acres (141 sq km) of high resolution3D seismic data. Based on these new data AleAnnas technicalgroup has identified several prospective areas in the block. ThePassioncella prospect, in the northeast corner of the permitarea, will be the most likely candidate for the first well to bedrilled in the permit area.Ponte del Diavolo Fast FactsAwarded February 2, 2009Surface Area 49,421 acres (199 sq km)3D Seismic Acquired 34,842 acres (141 sq km)3D Seismic ReprocessingPSTM / PSDM CompletedPSDM reprocessing In ProgressAVO In ProgressProspect Inventory In ProcessInterpretation/Permitting In ProgressDrilling Plan Q1 2014Po Valley Energys permitted exploration well, Gradizza, is located just north ofPassioncella.Ponte del Diavolo 3D Survey34,842 acres (141 sq km)Approximate WellLocation for thePassioncella Prospect 7. AleAnna ResourcesPonte dei GrilliThe Ponte dei Grilli exploration permit was awarded on March30, 2009. This exploration permit extends over a surface of258 sq km in the south-eastern part of the Po Valley, and it ison trend with large gas fields.The exploration targets in thisarea are the accumulations of gas within the Plio-Pleistoceneage turbiditic sands of the Apennines foredeep. Hydrocarbonsare trapped in thrusted anticlines, structural features andstratigraphic pinch outs.In 2012 the company acquired 76 sqkm of high resolution 3D seismic. Castelnuovo is a topprospect in the permit area. A proposed 2,200-meter Pliocenetest has 76 bcf (2.15 B m3)of potential in a 900-acre amplitudeon the southwest side of the Contignola anticline andanalogous structurally to a 46 bcf (1.3 B m3)area field.Ponte dei Grilli Fast FactsAwarded March 30, 2009Surface Area (258 sq km)3D Seismic Acquired (76 sq km)3D Seismic ReprocessingBrute stack Completed in August 2012PSTM / PSDM Completed in December 2012AVO In ProgressProspect Inventory In ProcessInterpretation/Drilling Permits In ProgressDrilling Plan Q2 2014Ponte dei Grilli3D Survey (76 sq km)CastelnuovoProspectSan Potito Field46 bcf (7 wells)Contignola Field52 bcf (16 wells) 8. Head Office5910 North Central ExpresswaySuite1250Dallas, Texas 75206Phone: 214699 9470Fax: 214 361 5000info@brsresources.comhttp://brsresources.comBRS ResourcesUnlocking Italys Onshore Oil & Gas PotentialHead Office401 Congress AveSuite 1540Austin,Texas 78701Phone: 512 487 7990Fax:512 681 9498info@irsmartt.com