Barnabus Energy Completes Manyberries Gas Project Financing - Prepares to Move Ahead with Strategic Plan.CALGARY, Alberta -- Barnabus Enterprises Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BBSE BBSE Bull Breeding Soundness Evaluation BBSE Bilateral Breath Sounds Equal (pulmonary examination finding) BBSE Brigade/Battalion Staff Exercise BBSE Ballyboden St. Enda's (Dublin, Ireland) ) announced today that it has now satisfied the terms of its agreement in the acquisition of its Manyberries project in southeastern Alberta, Canada. This acquisition provides the company with participation in a majority working interest of gas revenues from a parcel of three existing wells. The project additionally includes a working interest in a currently operational gas pipeline network as well as a majority working interest partnership with Encana Corporation EnCana Corporation is one of the largest independently owned oil and gas companies in the world. In both 2003 and 2004 it was Canada's most profitable company, with approximately $3.5 billion (U.S.) in profits on $12.2 billion in revenue. , one of Canada's largest gas producers, in a sweet-sour gas production plant. Management now feels it has firmly established the Company in a key role as developers of the existing pools of natural gas in the region. Barnabus President Kerry Nagy states: "We are extremely pleased to have the opportunity to acquire a project of such quality and near-term upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar . It is a great step forward for the Company as it brings immediate production and gas marketing revenue into Barnabus Energy." The company intends to take advantage of the momentum achieved by this news and fully intends to move quickly to advance its mixed-use strategic investment plan combining exploration, additional acquisitions and further development of existing infrastructure. The Company will regularly update the status of its projects as they occur. ABOUT THE COMPANY Barnabus Energy, Inc. (BBSE) is committed to the exploration and development of oil and natural gas reserves throughout western North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Management has closely aligned itself with key strategic partnerships consisting of veteran, experienced oil and gas professionals. The company's model is a focused approach to the exploitation of targeted, low risk development opportunities and the exploration for high impact oil and gas reserves. Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Barnabus Energy, Inc. has little or no control. ON BEHALF OF THE BOARD Barnabus Energy, Inc. Kerry Nagy, President Visit our website at www.barnabusenergy.com |
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