Berkley Resources Inc. Announces Acquisition Of Interest In American Uranium Corporation
American Uranium Corporation is a Nevada-based uranium exploration and development company with one project in the United States.
"The investment in American Uranium represents a key first step in our diversification strategy," said Berkley President and CEO Matt Wayrynen. "We believe AUC will add to shareholder value by providing opportunities in the energy industry outside of oil and gas."
Berkley Resources Inc. is a growth-oriented, junior oil and gas company with production, development and exploration assets in Alberta and Saskatchewan, Canada.
ON BEHALF OF THE BOARD
"Matt Wayrynen"
_________________________________
Matt Wayrynen
President and Chief Executive Officer
Berkley Resources De-Lists From The Toronto Venture Exchange
Berkley President and CEO Matt Wayrynen said that de-listing from the TSX Venture Exchange and listing on the CNSX was a strategic move. "For some time we've wanted to diversify," stated Wayrynen. "Our primary motivation for listing on the CNSX was the exchange's flexibility in allowing us to promote growth through new opportunities, which we believe will enhance shareholder value. We were also attracted to the lower costs and streamlined regulations for maintaining a listing. We're very optimistic that this new environment will benefit shareholders."
All major Canadian investment dealers buy and sell shares on the CNSX. For a list of participating firms, please visit the CNSX Dealer List. Berkley share quotes, along with detailed charting, volume, news releases, insider reports and other information, are available anytime on the CNSX Disclosure Hall web page.
Berkley Resources Inc. is a growth-oriented, junior oil and gas company with production, development and exploration assets in Alberta and Saskatchewan, Canada.
Berkley Resources Announces Commencement Of Trading On The Canadian National Stock Exchange
Berkley is a junior oil & natural gas exploration, development, and production company with offices in Vancouver, British Columbia and Calgary, Alberta. Berkley is in the business of acquisition, exploration, development and production from petroleum and natural gas interests. The company presently holds working interests in approximately 27 producing and non-producing crude oil and gas wells in Alberta and Saskatchewan with working interests ranging from 6 per cent to 30 per cent. For more information visit: www.berkleyresources.com.
ON BEHALF OF THE BOARD
"Matt Wayrynen"
_________________________________
Matt Wayrynen
President and Chief Executive Officer
Neither the CNSX nor the TSX-V have reviewed and do not accept responsibility for the adequacy or accuracy of the content of this news release. This release may contain statements that are considered as forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Press Release
focus on less capital intensive projects that provide opportunities for early cash flow and better return on investment.
One such project is the Wabamun sour gas project at Crossfield. The Company reportsthat the Operator, Standard Energy Inc., is proceeding well with the licencing process. Although it is unlikely that a license will be issued without a regulatory hearing, the hearing process itself is expected to move along more quickly now inasmuch as drilling activity is down in Alberta resulting in the Licensing Board having more open time available to deal with more complex applications like Crossfield.
ON BEHALF OF THE BOARD
"Matt Wayrynen"
_________________________________
Matt Wayrynen
Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
Corporate Update
Corporate Updates:
Ferrier West
The Company has executed a participation agreement (the "Agreement") with an Alberta-based oil and gas operator to participate in drilling an exploratory well in the Ferrier Area of westcentral Alberta. Under the terms of the agreement, Berkley will pay an aggregate $1,200,000 for
an 18% working interest in the well. The effective date of the Agreement is October 1, 2008. This 3,225 metre (10,580 foot) well was drilled and cased during the fourth quarter 2008.
Crossfield
In an associated transaction, the Company has entered into an agreement to sell 25% of its existing 50% interest in the Crossfield Project for $350,000.
Senex
Berkley also reports that it has reached an agreement with the operator of the Senex Project to settle the joint account dispute. This will facilitate future joint interest activity on the Senex
lands pursuant to the January 19, 2009 Agreement (see press release dated January 29, 2009). The Company currently holds a 10% working interest in the Project.
Chief Financial Officer
The Company also wishes to announce that Pamela Lynch, CMA, has joined the Company as Chief Financial Officer. Ms. Lynch is a member of the Certified Management Accountant's Association. She has more than 10 years of management and accounting experience in both the private and public sectors. Ms. Lynch is currently the Company's Corporate Secretary. Her experience encompasses financial and regulatory compliance in a number of industries.
ON BEHALF OF THE BOARD
"Matt Wayrynen"
_________________________________
Matt Wayrynen
Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release