Brazalta Acquires Stake in 26 Blocks in the Reconcavo and Sergipe Basins

BrazAlta Resources Corp. says that Agencia National De Petroleum, ("ANP"), Brazil's National Petroleum Agency has awarded BrazAlta 17 onshore blocks and BrazAlta's proposed joint venture partner nine onshore blocks, combined for a total of 26 blocks. Each block represents approximately 30 square kilometers.

About Round 7

The Brazilian national hydrocarbons regulator ANP has awarded 251 of the 1,134 exploration blocks offered in the seventh hydrocarbon licensing round.

The leading companies in the tender were the local federal energy company Petrobras that was awarded interests in 95 blocks; Portugal's state oil company Petrogal, awarded interests in 30 blocks, Repsol YPF, with interests in 16 blocks; and the BG Group with 10 blocks. Anglo Dutch oil company Shell won interests in five blocks, US oil company Devon was awarded interests in four blocks, Canadian oil company Encana was awarded minority interest in two blocks and Italian oil company Eni and US oil company Amerada Hess were awarded one block each.

Brazilian companies W Washington, Starfish, Phoenix Empreendimentos, Aurizonia, Silver Marlin, Synergy and Arbi Petroleo led the bids on the onshore blocks accounting for 210 of the blocks awarded.

The onshore blocks that attracted the most interest were those in the Potiguar, Reconcavo, Espirito Santo and Sergipe-Alagoas mature basins. The new frontier basins of Sao Francisco in the southeastern region of the country and the Amazon region of Solimoes also attracted unexpected interest from bidders. BrazAlta Resources Corp.