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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (9914)	6/21/2016 3:57:03 PM
From: Goose94	Respond to of 203026

Bengal Energy (BNG-T) 9 month high

To: Goose94 who wrote (9914)	7/26/2016 7:46:58 AM
From: Goose94	Read Replies (1) \| Respond to of 203026

Bengal Energy (BNG-T) July 26, '16 today announces that the Company and its joint venture parties have commenced the 2016 drilling campaign on ATP 752 Barta Block in the Cooper Basin, Australia (Bengal's working interest is 30.357%). The program consists of five wells within Petroleum Lease ("PL") 303 at the Cuisinier field comprised of four development/ appraisal locations and one near field exploration well. Three of the development wells are located in the central/south part of the Cuisinier field area primarily targeting the Murta DC70 sandstone and directly offsetting Murta oil producers. One development well will be drilled deeper to test the Jurassic Hutton Sandstone south of the Cocinero Hutton oil wells and offsetting Cuisinier 20 which had a Hutton oil show. These Murta locations are considered to be low risk production adds with additional upside exposure through the testing of a seismically defined Hutton target. The fourth development/appraisal well, Cuisinier 22, is situated approximately 790 meters north of the Cuisinier North-1 well, a Murta oil well drilled in 2012. 3D seismic mapping predicts the well will encounter the Murta sandstone approximately 13 meters above the lowest known oil ("LKO") within the Cuisinier structure and on the seismically defined, Murta sandstone trend, which if successful will support several low risk follow-up development opportunities. The near field exploration well ("Shefu-1") is intended to confirm a westerly extension of the Cuisinier pool. The well is mapped on 3D seismic to encounter the Murta approximately 18 metres above the LKO and while it is off the established producing trend, the location will test well developed Murta seismic amplitudes, believed to represent good sandstone reservoir development. Shefu-1 will be the fourth well in this campaign and will also test the Birkhead/Hutton Formation where a four-way structural closure has been mapped. A successful Murta test at Shefu-1 could unlock approximately 8 km2 of mapped area on 3D for future development. A successful Birkhead/Hutton well at Shefu-1 would de-risk an area of up to 3 km2 for future appraisal and development. The five wells will be drilled back to back with the entire program expected to last approximately 2 1/2 months. Completion and tie-in activities are planned to take place late calendar Q4 2016 to early Q1 2017 with all wells expected to be on production in Q1 2017. Exploration - ATP 934 Natural Gas Demand The increase in natural gas demand associated with newly commissioned liquefied natural gas export projects suggests that the Eastern Australia gas market will need significant new supply of natural gas in the medium term. This natural gas shortage is evidenced by recent spikes seen in the East Coast Australia spot gas markets to greater than $20 per gigajoule. ATP 934 Background Bengal holds a 71.43% and operatorship in the ATP 934 Permit with the Company's joint venture partner holding the balance (28.57%). The Permit is now in Year 2 having met the Year 1 permit commitment with the re-processing of the existing 522 line kilometres of 2D data. Planning for the Year 2, 200 km2 3D acquisition program is well underway with favorable acquisition contractor bids in hand. ATP 934 is surrounded by gas fields which have produced 126.1 BCF of natural gas and associated liquids to June of 2015(1). South of the Permit (an area covered with 3D) there are a total of 33 producing gas wells in these fields. No wells have been drilled on ATP 934. This large Permit covers an area of 1,462 km2 (360,000 acres). Targeted drill depths are 2,700 to 2,900 metres and natural gas pipelines and other natural gas production infrastructure are nearby. The tenements lying to the north of the Permit have been actively drilled over the past 24 months with 100% success. This activity has been supported by state of the art 3D seismic, which is now available in the public domain. Bengal has interpreted this 3D data set, extracting a number of favorable criteria through the detailed mapping of discovered gas accumulations; with indicators of both reservoir and seal units now evident in the 2D data over the ATP 934 Permit immediately south of this recent activity. Bengal's view of the potential for significant gas discoveries in this Permit has been strongly supported by both 2D and 3D seismic data which significantly improves prospect imaging and provides greater detail of the reservoir geology and structural controls. A total of up to seven individual drilling prospects have been identified and mapped on the Permit with additional tight gas resource potential also identified. Bengal believes that the prospects identified on ATP 934 could contain gas resources similar to those found in gas pools adjacent to the Permit. The Coonaberry East feature in ATP 934 is defined on multiple 2D lines of seismic and represents a prospective ready-to-drill prospect which is considered to be an analogous, albeit larger, to the adjacent Coonaberry and Ramses gas fields. The current supply and demand fundamentals in Eastern Australia are such that emerging gas resources can create robust economic returns. Therefore Bengal believes ATP 934 is well positioned to attract investment from the industry, be it domestic Australian or international. With this in mind, Bengal has commenced a farmout process to engage with large petroleum companies of sufficient scale to assist with funding the next phase of exploration in ATP 934. This will include industry participants from around the world who are looking to invest in significant new gas plays. Bengal believes that, subject to exploration success and based on management's view on prospects identified, the Permit has the potential to become a substantial new gas supply providing a valuable contribution to Australia's east coast gas market. About Bengal Bengal Energy Ltd. (TSX:BNG) is an international oil and gas exploration and production company with producing and prospective light oil-weighted assets in Australia. Bengal offers exposure to lower risk, current production and cash flow, combined with longer-term high, potential impact exploration projects. The Company's strategy is to achieve per share growth in cash flow, production and reserves while establishing an attractive portfolio of future drilling and exploration opportunities. Additional information is available on our website at www.bengalenergy.ca. Bengal Energy Ltd. Chayan Chakrabarty President & Chief Executive Officer (403) 205-2526 Bengal Energy Ltd. Jerrad Blanchard Chief Financial Officer (403) 205-2526 investor.relations@bengalenergy.ca www.bengalenergy.ca