EXHIBIT 99
BERKLEY RESOURCES INC.
400 - 455 Granville Street
Vancouver, BC
V6C 1T1
Tel: (604) 682-3701 Fax: (604) 682-3600
www.berkleyresources.com
info@berkleyresources.com
March 3, 2005 Trading Symbols: BKS - TSX Venture
BRKDF.PK - OTC BB (US)
PRESS RELEASE
Berkley Resources Inc. (the "Company") reports as follows with respect to its
current operations:
Brazeau Area, Alberta:
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The Company reports that the 5-13-46-13 W5M Nisku natural gas well was placed on
production in late February 2005 at an initial facility shake-down rate of 3.0
million cubic feet per day (mmcf/d) and has since been stepped-up to 4.0 mmcf/d.
The operator intends to hold the well at this rate for the time being while
monitoring the reservoir performance. The well showed substantially greater
productive capability on initial tests conducted in late 2004 (see January 5th,
2005 Press Release), however inasmuch as this is the only well producing from
this discrete Nisku reef, offset drainage is not an issue. Accordingly, the
operator intends to exercise due caution while evaluating optimum producing
practices. The Company is evaluating two additional drilling opportunities in
this Area, one of which it holds under option while the second is under
negotiations. The Company holds 30% working interest in the 5-13 well through
payout reducing then to 19.50%.
Senex Area, Alberta:
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The Company and its partners have completed the planned 3-D seismic program over
the joint lands (14 sections) which provides strong support and encouragement
relative to this multi-zone prospect. Several new drilling locations have been
identified and significant new information has been gained with respect to
reservoir characteristics. The Company holds 22.50% to 30% interest in the joint
lands. New drilling and completion plans are being developed. Some locations may
be accessible during the summer of 2005 while others will have to await the
2005/06 winter drilling season.
Other Projects:
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The Company continues to pursue new opportunities. The Leduc, Crossfield and
Sturgeon Lake drilling projects are on schedule for drilling in 2005. Each will
be important to Berkley.
For further information with respect to oil and gas operations please contact
Jim O'Byrne, Manager, Oil and Gas Operations, in the Calgary office at (403)
237-6211. For information with respect to financial matters, please contact Matt
Wayrynen, President, at the Company's Vancouver office at (604) 682-3701.
On behalf of the Board of Directors of Berkley Resources Inc.
"Matt Wayrynen"
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Matt Wayrynen, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release.