HOUSTON, March 9, 2006 (PRIMEZONE) -- Stonebridge Resources Exploration, Ltd. (Pink Sheets:SBRX) announced today that Christian Operating Company's senior management has agreed to remain with Stonebridge after the planned merger of the two companies. Stonebridge welcomes the more than 80 years of combined experience in the oil and gas industry that Christian management brings.
Christian's senior management team includes Philip Christian, who has spent the past decade as president of Christian Operating Company and CEO of all of the company's oil and gas development for more than 10 years; as well as Vice President Steve Christian, who has managed Christian's daily operations in oil and gas development for more than 10 years and brings extensive hands-on field operations expertise and extensive well workover knowledge.
In addition, Stonebridge welcomes a number of industry staff and consultants that collectively possess more than 60 years of chemical and petroleum engineering expertise in coal bed methane and complex petrophysical analysis.
Christian operating has also agreed to relocate Stonebridge's head office to their current facilities in Houston, Texas, to facilitate an orderly merger.
"We look forward to working with Christian's management team to finalize our planned merger and believe it will create considerable value for our shareholders," said Harold Pizel, president of Stonebridge Resources. "Our move to Houston underscores our desire to complete the agreement expeditiously so we can turn our attention to our core business as well as other potential acquisition targets currently under review."
About Christian Operating Company
Christian Operating Company is a regional oil and gas company based in Houston, Texas. The company owns approximately 300,000 barrels of oil reserves and is producing from those reserves. Additionally, Christian has reserves of approximately 22 billion cu. ft. of coal bed methane, which remain undeveloped at this time.
About Stonebridge Resources Exploration Ltd.
Stonebridge Resources Exploration Ltd., http://www.otcsbrx.com, is primarily engaged in the acquisition and development of oil and gas assets in continental North America. Stonebridge intends to continue to acquire in the oil and gas field and hopes to rework the new assets with technology to increase production and expand reserves.
Safe Harbor
The foregoing contains forward-looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, such words as "may," "will," "believes," "estimates," "continue," or comparable terminology intends to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors stated in the Company's filings with the Securities and Exchange Commission.