Brownstone Energy Inc (BWSOF: OTC Link) | Brownstone Energy and Operator Receive Approval to Commence Development of Gibson Gulch, Piceance Basin, Colorado

Brownstone Energy and Operator Receive Approval to Commence Development of Gibson Gulch, Piceance Basin, Colorado

Oct 04, 2011

OTC Disclosure News Service

Toronto, ONT, Canada –

TORONTO,Ontario (October 4, 2011) – Brownstone Energy Inc. (TSXV: “BWN”;OTCQX: “BWSOF”) (“Brownstone” or the “Company”) today announces that it hasbeen advised by the operator, Dejour Energy Inc. (NYSE AMEX: DEJ / TSX: DEJ),that they have received approval from the Bureau of Land Management (“BLM”) tocommence development on the jointly owned federal leases located in thePiceance Basin near Glenwood Springs, Colorado. The permits received todayallow them to prepare access roads, construct a drilling pad and drill thefirst four of a proposed eight well first phase development of this liquid-richgas project.  Brownstone has a 28%interest in these federal leases.

 

AboutBrownstone 

BrownstoneEnergy Inc. is a Canadian-based, energy focused company with direct interestsin oil and gas exploration projects, including varying interests in threeoff-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 adiversified portfolio of energy-based projects, Brownstone providesshareholders with a unique energy alternative. For additional information, please see Brownstone’s website:www.brownstoneenergy.com.

 

NeitherTSX Venture Exchange nor its Regulation Services Provider (as that term isdefined
in the policies of the TSX Venture Exchange) accepts responsibility for theadequacy
or accuracy of this release.

 

For further information,please contact:

JonathanSchroeder, P. Geoph., President and COO

(403) 660-2894

schroeder@brownstoneenergy.com

or

Richard Patricio, Vice-President Legal and CorporateAffairs
(416) 941-8900
info@brownstoneenergy.com

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/BWSOF/news?id=36375

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