TSX Venture Exchange: RBE
VANCOUVER, Sept. 29, 2016 /CNW/ - RockBridge Resources Inc.
("RockBridge" or the "Company" – TSXV symbol: RBE) provides this
update on its current operations and its ongoing plans.
As previously announced on June 6,
2016, the Company sold its Alberta subsidiary to 1077398 B.C. Ltd. and
has now recently sold several of its smaller properties. This
recent sale has enabled RockBridge to improve its working capital.
The Company's primary asset now is the Clarke Lake
property, which includes non-operated working interests from
9.4% to 25% in several unit wells, two of which are currently
producing approximately 64 BOEPD net to RockBridge, with further
increased production of 15 BOEPD from a third well expected
starting next month.
RockBridge continues to consider various viable strategic
alternatives, including a possible merger with another oil and gas
company.
ON BEHALF OF THE BOARD
ROCKBRIDGE RESOURCES INC.
"Steve Mathiesen"
Steve
Mathiesen, President & CEO
This news release may include statements about expected
further events and/or financial results that are forward-looking in
nature and subject to risks and uncertainties. RockBridge cautions
that actual performance will be affected by a number of factors,
many of which are beyond its control. Future events and results may
vary substantially from what RockBridge currently foresees.
Discussion on the various factors that may affect future results is
contained in RockBridge' s recent filings, available on
SEDAR.
Neither the TSX Venture Exchange Inc. nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange Inc.) accepts responsibility for the adequacy
or accuracy of this news release.
Reference to BOE means barrels of oil equivalent and is
derived by converting gas to oil at the ratio of six thousand cubic
feet (mcf) of gas to one barrel (bbl) of oil. BOEs may be
misleading, particularly if used in isolation. A BOE conversion
ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion
method primarily applicable at the burner top and does not
represent a value equivalency at the wellhead. References to BOEPD
means barrels of oil equivalent per day.
SOURCE RockBridge Resources Inc.