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Ursa Resources Group 'Highly Encouraged' By Early Results Of Its Bakken Well In McKenzie County, North Dakota

HOUSTON, Feb. 9, 2011 /PRNewswire/ -- Ursa Resources Group LLC ("Ursa"), an oil and gas exploration and production company focused on development of the Bakken and Three Forks formations in the Williston Basin, announced today that it has flow tested its Jeanie 25-36 #2H Bakken well in McKenzie County, North Dakota. During early flowback over a 24 hour period, the Jeanie flowed at an average of 1,185 BOEPD (1,004 BO/D, 1,085 MCF/D) on a 48/64" choke. Jeanie is a long lateral Bakken well completed with 30 fracture stimulation stages.

The Jeanie well (T147N, R103W) is located in the heart of Ursa's "Bar Trend" acreage. Success at this well extends the positive well results observed in Elm Coulee field to the west, and the area of intense industry activity and positive well results in the central basin area to the north.

"We are highly encouraged by the early results of the Jeanie well. The performance of this well is further proof that utilizing the appropriate completion technique is the key to unlocking the vast potential of the Bakken petroleum system," said Steve Skinner, Vice President Development of Ursa Resources Group LLC. "We believe the combination of the Bakken and Three Forks represents the premiere oil resource play in the United States. With over 110,000 net acres under lease in the over-pressured portion of the play, we are well positioned."

The Bakken formation is the largest oil accumulation in the lower 48 states. It is a world class source rock occupying approximately 200,000 square miles of the Williston Basin, covering parts of Montana, North Dakota, and Saskatchewan, Canada. Significant producible reserves of oil have already been discovered within this area. A U.S. Geological Survey report found that North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in the Bakken Formation.

About Ursa Resources Group LLC

Ursa Resources Group LLC is a privately held company focused on the leasing, drilling and development of the Bakken/Three Forks formations in the Williston Basin. With financial backing from Denham Capital, a leading energy-focused global private equity firm, the company is actively developing over 110,000 net acres currently under lease in Williams, McKenzie, and Billings Counties, North Dakota, and Richland and Roosevelt Counties, Montana.

    Contacts:         Jeffrey Taufield/Daniel Yunger
                      Kekst and Company
                      212-521-4800

SOURCE Ursa Resources Group LLC