Brownstone Energy and Operator Receive Approval to Commence Development of Gibson Gulch, Piceance Basin, Colorado
October 04 2011 - 5:00PM
Marketwired Canada
Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or the
"Company") today announces that it has been advised by the operator, Dejour
Energy Inc. (NYSE Amex:DEJ)(TSX:DEJ), that they have received approval from the
Bureau of Land Management ("BLM") to commence development on the jointly owned
federal leases located in the Piceance Basin near Glenwood Springs, Colorado.
The permits received today allow them to prepare access roads, construct a
drilling pad and drill the first four of a proposed eight well first phase
development of this liquid-rich gas project. Brownstone has a 28% interest in
these federal leases.
About Brownstone
Brownstone Energy Inc. is a Canadian-based, energy focused company with direct
interests in oil and gas exploration projects, including varying interests in
three off-shore Israel concessions and in four Colombian blocks in the Llanos
basin, as well as other oil and gas interests worldwide. By owning and managing
a diversified portfolio of energy-based projects, Brownstone provides
shareholders with a unique energy alternative. For additional information,
please see Brownstone's website: www.brownstoneenergy.com.
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