Bering Spuds Concordia Parish Well

- Bering Spuds Concordia Parish Well

Monday, September 12, 2011
Bering Exploration, Inc.

Bering Exploration, Inc. announced Monday that drilling has begun on the Sharp Heirs A No. 1 well located in Concordia Parish, Louisiana. This well will be drilled to a depth of approximately 7,500 feet to test the prospective zones in the Wilcox formation. This prospect has the potential for multiple wells and potential gross reserves of 500,000 barrels of oil. Bering will have a 10% working interest in this prospect.

"We are excited to begin drilling our initial well on this prospect and expect to reach total depth in a couple of weeks," stated Steven Plumb, VP of Finance of Bering. "If successful, this prospect has the potential to significantly add to our existing production."

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Bering Begins Oil Production at Chicas Locas Well

- Bering Begins Oil Production at Chicas Locas Well

Thursday, August 18, 2011
Bering Exploration Inc.

Bering announced that the Chicas Locas #1 well located in the Roxanne field has begun producing oil from the lower Yegua formation.

The Company is evaluating the well to determine whether artificial lift will enhance the initial production. The Roxanne field consists of approximately 600 acres located in Victoria County, Texas and has multiple drilling locations that will target the Yegua and Frio formations at various depths. This field is estimated to have over $8 million in potential gross reserves based upon the current price of oil and gas and assuming all wells are drilled and successful. Bering will retain a 50% working interest in this prospect.

"We are pleased to have established our first producing oil well and expect to continue to develop this prospect." stated Steven Plumb, VP of Finance of Bering, "We continue to seek out prospects that we can develop and increase shareholder value."

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Bering IDs New Prospect in Permian Basin

- Bering IDs New Prospect in Permian Basin

Wednesday, August 03, 2011
Bering Exploration Inc.

Bering has identified a new prospect through its exclusive partnership with Glaux Oil & Gas, LLC (Glaux) that covers 500,000 acres in the Permian Basin. This new prospect of approximately 640 acres has potential gross reserves of 950,000 barrels of oil and, based upon today's prices, equates to $88 million dollars of gross revenues or $3.50 per share. There is no guarantee that this prospect will be successful or that these numbers will be achieved due to production and/or price fluctuations. Bering is currently conducting its technical assessment and once satisfactorily completed will begin leasing the mineral rights. Bering expects to initially retain a100% working interest.

This prospect was the first identified as a result of its recently announced three year exclusive exploration agreement with Glaux for the development of numerous leads and prospects in approximately 500,000 gross acres in West Texas using a proprietary aeromagnetic survey. Once leased, Bering will use other advanced oil finding technologies such as telluric and seismic to identify well locations.

The Permian Basin is one of the largest and most active oil basins in the United States, with the entire basin accounting for approximately 19 percent of total U.S. oil production. The Permian Basin remains a significant oil-producing province and contains an estimated 30 Billion barrels of remaining mobile oil and has the biggest potential for additional oil production in the country, containing 29% of estimated future oil reserve growth. Through increased use of enhanced-recovery practices the Permian Basin can have a substantial impact on U.S. oil production.

"We are excited to have our initial prospect generated by Glaux and expect to begin the leasing phase later this month," stated Steven Plumb, VP of Finance of Bering. "Our exclusive relationship with Glaux has provided us with this quality prospect that has been identified using unique and exciting technologies."

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Bering to Participate in La. Prospect

- Bering to Participate in La. Prospect

Monday, August 01, 2011
Bering Exploration Inc.

Bering has entered into an agreement to participate in a prospect in southeast Louisiana. The initial well in the prospect will be drilled to a depth of approximately 7,500 feet to test the prospective zones in the Wilcox formation. This prospect has the potential for multiple wells and potential gross reserves of 500,000 barrels of oil. Bering will have a 10% working interest in this prospect.

"We are happy to be participating in a new prospect that has great upside potential and is expected to be drilled in the next two months," stated Steven Plumb, VP of Finance of Bering. "This prospect meets our criteria of participating in projects which provide the company the maximum amount of value with a minimal amount of risk, and if successful, will increase our shareholder value."

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Bering to Begin Drilling Ops at Tx. Prospect

- Bering to Begin Drilling Ops at Tx. Prospect

Monday, July 25, 2011
Bering Exploration Inc.

Bering will begin drilling operations this week on its South Texas prospect. Bering will re-enter an existing well bore and perforate the Yegua formation which was not originally targeted in this well. This approximate 500 acre prospect has multiple drilling locations and will target the Yegua and Frio formations at various depths and is estimated to have over $9 million in potential gross reserves based upon the current price of oil and gas and assuming all wells are drilled and successful. Bering will retain a 50% working interest in this prospect.

"The well bore that we are re-entering was initially drilled targeting a much deeper zone and was never tested for the Yegua and Frio zones that have historically been productive in this area," stated Steven Plumb, VP of Finance of Bering. "We have ordered the pipe and requested the production unit for Tuesday of this week. We expect to begin oil production in the next few weeks if our completion is successful."

Eagleford Update

Bering has elected to employ an additional unique radiometric technology to further delineate its previously announced Eagleford prospects. Bering believes this additional testing will further reduce its drilling risks and has put its Eagleford operations on hold until such testing can be completed.

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Bering Preps for Remediation of Two Tx. Wells

- Bering Preps for Remediation of Two Tx. Wells

Wednesday, May 18, 2011
Bering Exploration Inc.

Bering will begin the remediation of an initial two wells on its recent joint venture on 1,000 acres located in Central Texas. Bering will equally share the expenses required to remediate and develop this prospect with its JV partner and expects to begin the initial two well remediation within the next couple of weeks. There are 50 new well locations and an existing 50 well bores that could potentially be rehabilitated and brought back into production. The company will initially target the Eagle Ford and Austin Chalk formations.

Bering recently announced that drilling operations have begun on its Gulf Coast prospect with potential gross revenue valued at $29 million over the life of the prospect. Additionally, Bering announced that it will initially drill four test wells on its Eagle Ford shale play in Central Texas targeting $11 million in gross potential reserves and will utilize the results to help with the design and development of a more in depth drilling program for the remaining 116 potential well locations targeting gross potential reserves of more than $300 million. The figures above are based upon the current price of oil and gas and assume all wells are drilled and successful.

"We believe that this is an excellent opportunity to quickly establish production and cash flow," stated Steven Plumb, VP of Finance of Bering. "We hope that these initial two wells provide us the results that will enable us to expand our remediation efforts to the entire field."

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Bering IDs Prospect in Permian Basin

- Bering IDs Prospect in Permian Basin

Monday, May 16, 2011
Bering Exploration Inc.

Bering has identified its initial West Texas prospect in the Permian Basin which has potential gross reserves of 600,000 barrels of oil or $60 million based upon current prices. This prospect is approximately 640 acres and will target the Sprayberry formation at a depth of approximately 9,000 feet. Bering is currently conducting its technical assessment and once satisfactorily completed will begin leasing the mineral rights. Bering expects to initially retain a100% working interest.

This prospect was the first identified as a result of its recently announced three year exclusive exploration agreement with Glaux Oil & Gas, LLC (Glaux) for the development of numerous leads and prospects in approximately 500,000 gross acres in West Texas using a proprietary aeromagnetic survey. Once leased, Bering will use other advanced oil finding technologies such as telluric and seismic to identify well locations.

The Permian Basin is one of the largest and most active oil basins in the United States, with the entire basin accounting for approximately 19 percent of total U.S. oil production. The Permian Basin remains a significant oil-producing province and contains an estimated 30 Billion barrels of remaining mobile oil and has the biggest potential for additional oil production in the country, containing 29% of estimated future oil reserve growth. Through increased use of enhanced-recovery practices the Permian Basin can have a substantial impact on U.S. oil production.

"We are excited to have our initial prospect selected and expect to begin the leasing phase later this month," stated Steven Plumb, Chief Financial Officer of Bering. "Our exclusive relationship with Glaux is providing us with quality prospects that have been identified using very unique and exciting technologies."

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Bering Begins Process for Operatorship for Tx. Field

Bering Begins Process for Operatorship for Tx. Field

Monday, April 25, 2011
Bering Exploration Inc.

Bering has begun the process to be licensed by the State of Texas to conduct drilling and operations in Texas. The company expects to receive the approval in the next thirty days.

Bering recently announced that drilling operations have begun on its Gulf Coast prospect with potential revenue valued at $29 million over the life of the prospect. Additionally, Bering announced that it will initially drill four test wells on its Eagle Ford shale play in Central Texas targeting $11 million in gross potential reserves and will utilize the results to help with the design and development of a more in depth drilling program for the remaining 116 potential well locations targeting gross potential reserves of more than $300 million. The figures above are based upon the current price of oil and gas and assume all wells are drilled and successful.

"We expect our application for an operator's license with the Texas Railroad Commission to be approved in the next thirty days," stated Steven Plumb, VP of Finance of Bering. "This license will allow Bering to enter the first phase of our drilling program on our Eagle Ford prospect."

Bering to Drill Eagle Ford Wells

Bering to Drill Eagle Ford Wells

Monday, April 11, 2011
Bering Exploration Inc.

Bering will initially drill four test wells on its Eagle Ford shale play in Central Texas. The results from these initial wells will help with the design and development of a more in depth drilling program for the remaining 116 potential wells locations. These initial four wells will target the Eagle Ford, Austin Chalk, Buda and Edwards zones and based upon current prices have gross potential reserves of $11,000,000. Bering will retain a 100% working interest and an 80% net revenue interest with a two year lease term.

The Eagle Ford Shale is a shale rock formation located in multiple counties in South Texas. It underlies the Austin Chalk and is considered by geologists to be the "source rock," or the original source of hydrocarbons (oil and gas) that are now found in the Austin Chalk. Industry leaders have been quoted as saying that it has the "perfect mineralogical makeup for shale play" and one of the world's largest oil & gas companies has already called it the sixth largest domestic oil discovery in the U.S. history.

"We are very excited to begin this initial drilling program," stated Steven Plumb, Chief Financial Officer of Bering. "We expect to obtain the drilling permits in the near term and hope to be drilling soon after that. If these first four wells are successful then we expect this prospect to add significant value to our company and shareholders."

Bering Begins Assessment on Eagle Ford Shale Acreage

Bering Begins Assessment on Eagle Ford Shale Acreage

Wednesday, April 06, 2011

Bering Exploration Inc.

Bering has begun a geological assessment on its 1,200 gross acres targeting the Eagle Ford shale play in Central Texas. This assessment will help define Bering's initial drilling program. The company expects to have a preliminary plan completed by early next week.

This prospect has potential gross reserves of 3,000,000 barrels of oil and 120 well locations and will target the Eagle Ford, Austin Chalk, Buda and Edwards zones. Bering will retain a 100% working interest and an 80% net revenue interest with a two year lease term.

The Eagle Ford Shale is a shale rock formation located in multiple counties in South Texas. It underlies the Austin Chalk and the Edwards limestone formation and is just below these formations. It is considered by geologists to be the "source rock," or the original source of hydrocarbons (oil and gas) that are now found in the Austin Chalk above it. Industry leaders have been quoted as saying that it has the "perfect mineralogical makeup for shale play" and one of the world's largest oil & gas companies has already called it the sixth largest domestic oil discovery in the U.S. history.

"This is a crucial step in implementing our drilling program," stated Steven Plumb, Chief Financial Officer of Bering. "We expect to complete this process in the near term so that we can begin drilling our initial wells by this summer."