/THIS DOCUMENT IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED
CALGARY, April 2 /CNW/ - April 2, 2007: BNP Resources Inc. ("BNP") is
pleased to announce the successful completion of a well in South-Central
The well was drilled as a Banff test to a depth of 1,090 meters. An
extended flow production test averaged approximately 1.2 million cubic feet
per day ("mmcf/day"- approximately 200 barrels of oil equivalent per day at a
6:1 conversion ratio). BNP anticipates that this well will be equipped and
tied in after break-up, at which time the actual daily production level will
In addition, BNP is pleased to announce the signing of 3 deals that
enhance the company's position in its core Peace River Arch Area by an
additional 2,560 gross acres.
Under the first deal with a publicly traded independent Canadian company,
BNP has earned a 50% working interest in one section by undertaking a work
commitment that did not involve capital expenditures.
The second deal, also with a publicly traded independent Canadian
company, is a seismic option. Upon conducting 5 kilometres of 2-D seismic, BNP
will have the option to drill a well to earn a 100% working interest in one
section subject to a nonconvertible gross overriding royalty.
The third deal, with a Canadian publicly traded energy trust, grants BNP
the right to review 3-D seismic data with the option to drill, case and
complete a well to earn a 65% interest in 2 sections.
BNP has 8,500,000 Class A shares and 922,500 Class B shares issued and
outstanding, which trade on the TSX Venture Exchange under the symbols "BNX.A"
and "BNX.B" (TSXV-BNX.A and BNX.B).
ADVISORY: This press release may contain forward-looking statements
including management's assessment of future plans and operations and
expectations of future production, cash flow and earnings. These statements
are based on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ materially from
those anticipated. These risks include, but are not limited to: the risks
associated with the oil and gas industry (e.g. operational risks in
development, exploration and production; delays or changes in plans with
respect to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses and health, safety and
environmental risks), commodity price and exchange rate fluctuation and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. The
forward-looking statements contained in this press release are made as of the
date hereof and BNP undertakes no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Gregory Bilcox, President and CEO, BNP
Resources Inc., Phone: (403) 695-1091, Fax: (403) 265-0413; Gordon B. Paul,
Vice President, Finance and CFO, BNP Resources Inc., Phone: (403) 695-1095,
Fax: (403) 265-0413