Bering Finalizes Acquisition of Tx. Leasehold

Bering has completed the acquisition of the Gohlke leasehold located in Dewitt County, Texas. This 260-acre prospect is leased to 10,000 feet and has ten drilling locations and potential gross reserves of 3,500,000 barrels of oil and 5 Bcf of gas. Bering owns a 100% working interest and a 76.5% net revenue interest.

"We are very excited to add the Gohlke leasehold to our portfolio," stated Steven Plumb, VP of Finance of Bering. "The preliminary geological reports on this leasehold are very promising."

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