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Consolidated Beacon Resources Ltd.
Suite 260, 600 - 6th Ave, SW, Calgary, Alberta T2P OS5
California Property Update
CALGARY, ALBERTA, Tuesday, 5th September, 2006 – Consolidated Beacon Resources Ltd. (the "Company") is pleased to announce continued development with its core hydrocarbon asset located in the San Joaquin Basin, California. The Company, with its participants, have identified three areas that are prospective for shallow oil exploration at depths of 1000 to 3000 feet. Three 3D seismic surveys covering 25 square miles have been designed for these prospective areas, with programs anticipated to begin once equipment is available. Upon completion of these seismic programs including processing and interpretation, targets will be identified and drilling will commence.
The San Joaquin Basin in California is a prolific producer of hydrocarbons for a number of private and public oil and gas companies. Recent assessments from the U.S. Geological Survey estimate undiscovered oil and gas resources of 393 million barrels oil, 1.7 trillion cubic feet of gas, and 86 million barrels of natural gas liquids in the San Joaquin Basin Province. In the vicinity of the prospect areas, two prominent fields have produced 435 million and 20 million barrels of oil respectively from the Pyramid Hills and Vedder Sands. The Company, with its participation partners, intend to capitalize on its significant land position, and continue exploration for and development of potential hydrocarbon deposits.
The Company’s Area of Mutual Interest with its partners includes the Mount Poso oilfield, part of a package of producing assets with significant upside potential being purchased by Occidental Petroleum of Los Angeles from Plains Exploration and Production Co. of Houston, Texas.
About Consolidated Beacon Resources Ltd.
Consolidated Beacon Resources Ltd. is a Calgary, Alberta based corporation in the business of evaluating and acquiring oil and natural gas properties, exploring for hydrocarbons, principally in the Province of Nova Scotia, the Northwest Territories, and the United States.
For further information about the Company, please contact:
Contact: Gordon Beach
I.R. Communicators, Inc.
(403) 651-2314
Email: gordbeach@shaw.ca
Richard J. Hawes
Consolidated Beacon Resources Ltd.
(403) 221-8392 Email:
kbc1@telus.net
Website: www.consolidated-beacon.com
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by the Corporation on SEDAR (www.sedar.com), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Corporation undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.
