During a recent investor presentation at EnerCom’s London Oil & Gas Conference™ 3, investors took note of BRS Resources’ large leasehold position in Italy’s Po Valley. With nearly 800,000 acres in the Po Valley, combined with the recent referendum passed in Italy on nuclear power generation BRS and its partners are seeking to capitalize on the growing appetite for natural gas in Italy. Click here for the link to the news story.

During the EnerCom conference, as well as in one-on-one investor meetings in London and Zurich, Steve Moore, CEO and President of BRS Resources, confirmed that the company is on schedule to drill its Gallare prospect, the company’s first well, within the next 60 days. The cost of this well is entirely funded by BRS’s partners.

Primary questions asked by investors during one-on-one meetings in London and Zurich include, but are not limited to:

  • Is the Po Valley a conventional or unconventional play?
  • What is your membership interest in the overall 800,000 acres in the Po Valley?
  • When do you expect to receive the exploration permit for the Gallare prospect?
  • How soon after would you start drilling on the prospect?
  • Have you contracted for a drilling rig and other oil field services?
  • Is there infrastructure in place to transport the gas once it is produced?
  • What are the economics on this play?
  • What type of EURs are you expecting on the Gallare prospect?
  • How soon after drilling the Gallare prospect would you begin drilling the Trava prospect?
  • You mentioned that you are being carried on the Gallare prospect. What are the well costs you expect on Trava?
  • What other companies operate in the Po Valley?
  • You are budgeting your projects on $10.00 natural gas prices in the Po Valley. Prices in the Po Valley currently average around $12.00 per Mcfe. What is the likelihood that natural gas prices will maintain current levels?What risks are associated with working with the Italian government?
  • How much cash do you have on the balance sheet? How long before you will have to raise additional capital?

Following Gallare, BRS will start to drill its second well Trava to test the Miocene formation. Management has indicated that the Trava prospect holds even greater potential than the Gallare prospect. BRS management, as well as EnerCom analysts will continue to provide updates on each of these projects.


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