VANCOUVER, BRITISH COLUMBIA - (Marketwire - Aug. 27, 2007) - Bayou Bend Petroleum Ltd. ("Bayou Bend" or "the Company") (TSX VENTURE:BBP) is pleased to announce that it was the apparent high bidder for 2 blocks on the Outer Continental Shelf in the Western Gulf lease sale held on August 22, 2007.
The successful bids cover 2 blocks (#542 and #547) in the West Cameron offshore area bringing the total gross acreage held by the Company to 73,277 acres. Leases are expected to be awarded by the Minerals Management Service in the near term.
Mr. Clint Coldren, President of Bayou Bend, commented, "With these two new successful bids, Bayou Bend now holds or has earn-in rights for a 100% interest in 8 OCS Gulf of Mexico blocks and earn-in rights for a 25% interest in a 9th block. The Company is rapidly building a highly prospective portfolio of quality assets in the Gulf region. We look forward testing the numerous large prospects identified on our acreage."
Bayou Bend is an oil and gas exploration and production company with a focus in the Gulf of Mexico shallow water shelf area. The Company has lease interests in the State Waters of Louisiana near Marsh Island and in several Federal OCS blocks offshore Louisiana and Texas. The Company has an aggressive drilling program planned for 2007 including a minimum of 7 exploration wells.
Cautionary Statements
This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
On Behalf of the Board
Clinton W. Coldren, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Website: www.bayoubendpetroleum.com
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