Sunridge Energy Corp. has reached agreement with a Calgary-based private oil and gas investment Corporation (the "JV Partner") of Calgary, Alberta, pursuant to which the JV Partner will farm in on the Corporation's third well in its North Central field discovery, scheduled for late December 2012. The JV Partner shall pay 75% of the total costs to complete the well and bring it on production to earn a 50% interest in the well.

In addition, pursuant to the terms of the joint venture Sunridge and the JV Partner have entered into an area of mutual interest over one year, covering 9 sections in proximity to the target well. Sunridge will retain operatorship.

"We are absolutely thrilled with the joint venture arrangement," states Dwayne Tyrkalo, CEO of Sunridge. "Our partner is of exceptional reputation, with tremendous experience and success in the Western Sedimentary Basin. We view this as a sterling endorsement of our prospects and plans in the area."

Tags: Sunridge Energy Corp.