|
|
OIL & GAS PROJECTS
 Brownstone has a 10% participating interest in leases totaling more than 285,000 gross acres in the Piceance and Uinta Basins, USA. Dejour Energy Corp, a wholly-owned subsidiary of Dejour Enterprises Ltd., Retamco Operating Inc., and Brownstone are working together to explore and develop these prospective leases. The Piceance region consist of 6,000 plus sq. miles of ground that is estimated to contain more than 300 Trillion Cubic Feet (TCF) of conventional and unconventional gas and as much as three billion barrels of oil. |
|
|
 Brownstone entered into a farmin arrangement by way of a Participation Agreement with Petrolifera Petroleum Limited (TSX: “PDP”), whereby Brownstone can earn a 25% in Petrolifera’s 253,000 acre (approximately 1,025 Km2) Vaca Mahuida Block in the province of Rio Negro, Argentina. The Vaca Mahuida block is situated south of and is contiguous with Petrolifera’s 100% owned Rinconada Block, which comprises a part of the Puesto Morales/Rinconada Concession in Argentina’s Neuquén Basin. |
|
 Brownstone signed a farm-in agreement for a 15% interest in Canoro's exploration blocks in northeast India. Other partners in this property include National Thermal Power Corp. (NTPC), India's largest utility company, and Geopetrol, operator in the region since 1995. India is home to the world's largest gas discovery, made in 2002, and has significant oil resources. With political and economic stability and existing and planned infrastructure, India's Assam region has excellent potential for further oil and gas project development. For Brownstone, this project marks its entry into the Indian oil and gas market and provides it with access to Canoro's significant Indian expertise and oil and gas experience. Canoro and Brownstone have agreed to work on future opportunities in India. |
|
 Brownstone acquired a 2% participating interest in ~366,973 net acres in the Columbia River Basin, Oregon with Savant Resources LLC. Savant owns rights and interests in an undivided 75% interest in the leasehold estates which run for 10 years. This area is currently experiencing significant activity on three planned 14,000 foot wells by Encana. These wells represent a significant industry commitment to establish commercial natural gas production in the expanding Pacific Northwest and West Coast markets. |
|
 Brazil’s national petroleum agency awarded Brownstone two onshore land blocks in Round 8 of the Brazilian Land Auctions in the Tucano Basin area of Central Eastern Brazil. BrazAlta and W.Washington were also awarded three blocks during the same auction. All three companies have entered into an agreement to co-operate on the ownership and development of the combined five blocks. Brownstone has a 25% participating interest in the project. |
|
|
 Brownstone entered into an area of mutual interest agreement covering off shore Israel with Adira Energy entitling Brownstone to 15% of any blocks in the region. The partners first two blocks (Gabriella and Yithzak) were acquired in 2009.
|
|
 Brownstone is 50% joint venture owner with X-Terra Resources (XT:TSXV) (505) of over 300,000 ha of Quebec Shale Licenses in the St. Laurent Lowland area of Quebec (namely the Shawinigan, Rimouski and Rimouski North), with a completed survey over a significant portion of those lands.
|
|
|
