Brownstone Energy Inc. has received two independent resource reports including a best estimate in aggregate of 232.2 million barrels (MMbbl) of oil and condensate, including 110.1 MMbbl of contingent oil, and 1.8 TCF of gas on the Company's Gabriella License and Yitzhak License located offshore Israel. The Reports were prepared by Netherland, Sewell & Associates, Inc. (NSAI) of Houston, Texas.

NSAI conducted an assessment of the Gross (100%) Contingent and Unrisked Prospective Resources located in the #378 / Gabriella block and the Gross (100%) Unrisked Prospective Resources in the #380 / Yitzhak block, both as of March 1, 2012. Approximately 465-km2 of 3D seismic data was acquired in 2010 and 2011 for the Licenses. The data was shot on an azimuth of 23 degrees and was processed by CGG Veritas. This survey was processed with another smaller 197-km2 3-D seismic survey shot on an azimuth of 343 degrees.

Sheldon Inwentash, CEO of Brownstone Energy comments: "The Netherland and Sewell independent evaluations of our offshore Israel Gabriella and Yitzhak blocks further confirm that Brownstone has significant high impact exploration projects in our portfolio of world class assets.

Tags: Brownstone Energy