2012-12-05 23:22:23 -
CHANG CHUN, CHINA -- (Marketwire) -- 12/05/12 -- Breezer Ventures Inc. (BRZV) (OTCQB:BRZV) ("Breezer" or the "Company") is pleased to give an operational update on its drilling plans for Well #11 of the Jackson Oil Leases. The Company continues execution of its primary objective of re-opening existing oil wells and exploring for new reserves on the Jackson Leases, located in Texas.
Well #11 was recently re-opened and re-drilled into the Moran Sand formation. The Company drilled to a depth of approximately 2,600'. Various production tests were then conducted to determine and identify zones of oil and gas production. The zones yielding the highest reserves of oil and gas were fraced to stimulate and release the oil and gas from the formation. Currently, the frac fluid used to inject the sand particles into the formation fractures is being pumped back to recover the injected fluid. This process is going well and oil has started to flow back with the frac fluid. As the fluid level is coming down, we are now looking to re-equip the pump to attain a faster and stronger pumping action to see if commercial production of oil can be achieved. We will continue to monitor the flow of oil and fluids and provide further updates as they occur.
The Jackson Leases is surrounded by significant discoveries in close proximity, leading to high expectations for the property.
Along with beginning to plan for the next well to be drilled in the Jackson Leases, the Company is also looking at other acquisitions to bolster its inventory of drillable prospects.
About Breezer Ventures Inc.
Breezer Ventures Inc. (OTCQB:BRZV) (www.breezerventures.com) is an oil and gas exploration and production company engaged in oil production and its associated activities including: exploration, extraction, processing, and reclamation. The Company specializes in sustainable, low-cost oil and gas production which delivers value from efficiency. The Company currently owns and operates and also has options on various wells located in the Jackson Oil and Gas leases located in Texas.
This current report contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, continuing production from the "Jackson Oil and Gas Leases", or the generation of positive cash flow as a result, updating of the corporate website or the availability of an independent geological report outlining the leases, their production, and their potential. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of oil and gas prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF BREEZER VENTURES INC.
Tang Xu, Director
Breezer Ventures Inc.