Burleson Energy Limited (ASX:BUR) Acquired New Wilcox Project Area

Sydney, Dec 3, 2010 AEST (ABN Newswire) - Burleson Energy Limited (ASX:BUR) is pleased to announce that it has acquired a 36% Working Interest (27.18% Net Revenue Interest) in attractive new Wilcox prospects known collectively as the "Hill Prairie Bell Project" and encompassing a total of ~ 700 acres (283 hectares) in Colorado County, approximately 12 kilometres southwest of our 119 square mile 3D seismic (CC3D) project area. Two structural closures at the prolific Prairie Bell (PB) level are mapped within this acreage. The closures are fully defined by recent 3D seismic and are located just 5 km from several pre-3D fields discovered prior to 3D seismic coverage as well as recent discoveries found using the recent 3D seismic, all of which produce from the PB level.

The closures as mapped have the potential to contain up to an estimated 14 Bcf of gas plus 400 thousand barrels of condensate (mbc) recoverable. It is anticipated that the largest of these closures (~8 Bcf & 240 mbc) will be drilled during Q2, 2011.

BUR Managing Director, Michael Sandy commented: "Our US partner and operator AKG Energy are always on the lookout for opportunities outside the existing CC3D area. It is therefore pleasing to be able to add additional attractive Wilcox targets to BUR's prospect inventory. This is especially the case following success with 2 of the three Wilcox prospects drilled to date (Heintschel and Joann). In particular, the discovery of the potentially sizeable Heintschel field (which is being appraised by the currently drilling D Truchard #1 well to be followed by the Heintschel #2 development well) has shown the considerable potential for Prairie Bell Wilcox reservoired prospects in Colorado County."

Contact

Mike Sandy Managing Director Tel: +61-2-9450-2002 Fax: +61-2-9986-1753 Email: info@burlesonenergyltd.com http://www.burlesonenergyltd.com