BNG Bengal Energy Ltd

Bengal Energy Ltd. (TSX:BNG) ("Bengal" or the "Company") announces that Beach
Energy Ltd. ("Beach") has completed drilling operations at Tangalooma-1, the
first of two fully funded exploration wells to be drilled in Bengal's
Tookoonooka block within Australia's Cooper Basin under the Beach joint venture
(the "JV"). The well failed to define a commercial hydrocarbon accumulation and
has been plugged and abandoned. 


Under the terms of the JV, Beach will fully fund the drilling of two exploration
wells, and the acquisition of 300 km2 of new 3D seismic in Tookoonooka up to a
total maximum value of AUD$11.5 million. The seismic acquisition is currently
ongoing and anticipated to continue through the end of January 2014. Upon
completion, a comprehensive interpretation process will be undertaken to
identify future drilling locations, including the location for the second well
that Beach will drill to fulfill the terms of the JV. Bengal will provide
updates on the 3D seismic process as well as the selection of the second
drilling location in the second calendar quarter of 2014. 


"Bengal remains very optimistic about the potential of our Tookoonooka block,
and is pleased to benefit from Beach's extensive experience operating in the
Cooper Basin," said Chayan Chakrabarty, President & CEO of Bengal. "Our JV
allows us to further advance evaluation at Tookoonooka while minimizing risk and
maintaining our balance sheet strength."


About Bengal

Bengal Energy Ltd. (TSX:BNG) is an international oil and gas exploration and
production company with producing and prospective light oil-weighted assets in
Australia and India. Bengal offers exposure to lower risk current production and
cash flow, combined with longer-term high potential impact exploration projects.
The Company's strategy is to achieve per share growth in cash flow, production
and reserves while establishing an attractive portfolio of future drilling and
exploration opportunities.


Additional information is available at www.bengalenergy.ca.

Forward-Looking Statements

This news release contains certain forward-looking statements or information
("forward-looking statements") as defined by applicable securities laws that
involve substantial known and unknown risks and uncertainties, many of which are
beyond Bengal's control. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward looking statements. The use of any of the words "plan", "expect",
"prospective", "project", "intend", "believe", "should", "anticipate",
"estimate", or other similar words or statements that certain events "may" or
"will" occur are intended to identify forward-looking statements. The
projections, estimates and beliefs contained in such forward looking statements
are based on management's estimates, opinions, and assumptions at the time the
statements were made, including assumptions relating to: the impact of economic
conditions in North America, Australia, India and globally; industry conditions;
changes in laws and regulations including, without limitation, the adoption of
new environmental laws and regulations and changes in how they are interpreted
and enforced; increased competition; the availability of qualified operating or
management personnel; fluctuations in commodity prices, foreign exchange or
interest rates; stock market volatility and fluctuations in market valuations of
companies with respect to announced transactions and the final valuations
thereof; and the ability to obtain required approvals and extensions from
regulatory authorities. We believe the expectations reflected in those
forward-looking statements are reasonable but, no assurances can be given that
any of the events anticipated by the forward-looking statements will transpire
or occur, or if any of them do so, what benefits that Bengal will derive from
them. As such, undue reliance should not be placed on forward-looking
statements.

Forward-looking statements contained herein include, but are not limited to,
statements regarding: Beach's ongoing seismic acquisition program in the
Tookoonooka Block; Beach's intentions to drill a subsequent well in Tookoonooka
and Bengal's anticipated announcement of the results of such well and the
seismic acquisition process; and identification of drilling locations subsequent
to the interpretation of the Tookoonooka seismic data. The forward-looking
statements contained herein are subject to numerous known and unknown risks and
uncertainties that may cause Bengal's actual financial results, performance or
achievement in future periods to differ materially from those expressed in, or
implied by, these forward-looking statements, including but not limited to,
risks associated with: the failure to obtain required safety assessments and rig
acceptance; failure to secure required equipment and personnel; changes in
general global economic conditions including, without limitations, the economic
conditions in North America, Australia, India; increased competition; the
availability of qualified operating or management personnel; fluctuations in
commodity prices, foreign exchange or interest rates; changes in laws and
regulations including, without limitation, the adoption of new environmental and
tax laws and regulations and changes in how they are interpreted and enforced;
the results of exploration and development drilling and related activities; the
results of seismic activities and related operations; changes in anticipated
operating and transportation costs; changes in pipeline accessibility; the
ability to access sufficient capital from internal and external sources; failure
to obtain or delays in obtaining regulatory approvals; and stock market
volatility. Readers are encouraged to review the material risks discussed in
Bengal's Annual Information Form for the year ended March 31, 2013 under the
heading "Risk Factors" and in Bengal's annual MD&A under the heading "Risk
Factors". The Company cautions that the foregoing list of assumptions, risks and
uncertainties is not exhaustive. The forward-looking statements contained in
this news release speak only as of the date hereof and Bengal does not assume
any obligation to publicly update or revise them to reflect new events or
circumstances, except as may be require pursuant to applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bengal Energy Ltd.
Chayan Chakrabarty
President & Chief Executive Officer
(403) 205-2526


Bengal Energy Ltd.
Jerrad Blanchard
Chief Financial Officer
(403) 205-2526
investor.relations@bengalenergy.ca
www.bengalenergy.ca

Bengal Energy (TSX:BNG)
Historical Stock Chart
From Apr 2024 to May 2024

Bengal Energy (TSX:BNG)
Historical Stock Chart
From May 2023 to May 2024