Blue Earth Resources, Inc., through its wholly-owned Petro Resources subsidiary, has completed a material expansion of its Louisiana acquisition announced on May 8, 2013. The initial acquisition involved a 37.5% WI (working interest) in Spider Field leases in DeSoto Parish, LA. BERI has now acquired an additional 25% WI in these 14 Spider Field wells for consideration of 8 Million shares of restricted common stock of BERI, resulting in BERI now owning 62.5% WI of these leases. Having this majority WI provides BERI with control over the future operation of existing wells as well as any future drilling of infill wells.

These Spider Field leases comprise 940 acres which are located in a major oil and gas producing area of northwestern Louisiana near a number of prolific petroleum producing fields in bordering East Texas. The Spider Field is known for having production of both oil and gas at various depths from multiple sandstone and limestone geologic formations. Accordingly, any future drilling by BERI on these leases should result in commercial production of oil, or natural gas, or both oil and gas.

Tags: Blue Earth Resources, Inc.