Fortbridge Media Release

Bengal Energy [ASX: BNG] - Bengal Energy Announces Fiscal 2012 Results

Bengal Energy Ltd. (ASX: BNG) today announced its financial and operating results for the year ended March 31, 2012.

FISCAL 2012 HIGHLIGHTS:

* Production increased by 33%: Averaged overall production of 135 barrels of oil equivalent per day (boe/d), an increase of 33% over the 101 boe/d for the year ended March 31, 2011. This was a result of increased production from the Cooper Basin of Australia, including Cuisinier 2 and 3 that began producing at the end of August 2011;
* Revenue increased by 133%: Reported revenue of $4.3 million, an increase of 131% over the year ended March 31, 2011;
* Netbacks increased by 114%: Achieved netback of $45.72/boe, an increase of 114% over $21.34/boe for the year ended March 31, 2011; Australian netback of $68.81/boe reflects the strength of the Brent benchmark crude oil prices and is an increase of 43% over $48.02/boe for the previous year;
* Reserves (2P) increased by 9%: Independent third party year-end reserves evaluation to March 31, 2012 have shown a 9% year-over-year corporate proved plus probable (�2P�) reserves increase, driven by a 32% increase of 2P reserves at Cuisinier, offset by natural declines and 2P reserves reductions of 4% and 21% respectively at Toparoa, Australia and Oak, BC., with the latter being a Canadian natural gas and natural gas liquids (�NGL�) producing property. Based on 2P reserves additions, the Company replaced over twice its annual production to March 31 2012. Detailed reserves disclosures will be included in Bengal�s 2012 Annual Information Form to be filed on SEDAR at
* Rig purchased for operated drilling program: On April 5, 2012, the Company announced the purchase of an Ideco H-44 drilling rig and its associated equipment for initial use in its calendar 2012 operated exploratory drilling program in the Cooper Basin. The Rig is a 750 HP carrier-mounted double with a depth capability of 3,000 metres. The rig provides the Company with an opportunity to reduce the execution risk and cost structure on its upcoming Tookoonooka drilling campaign as well as increase control and flexibility over the program so opportunities can be fully evaluated;
* Largest drilling campaign in Company history underway: Launched a drilling campaign early in fiscal 2013, which is expected to include four Cuisinier wells and three Tookoonooka wells. On June 4, 2012 the Company announced that the first appraisal well in the campaign, spudded on May 20, 2012, will be cased as a future oil producer with an estimate of at least 9.1m of net pay. Three more appraisal wells are expected to follow at Cuisinier in fiscal 2013. Bengal expects to commence its 100% operated Tookoonooka campaign in July 2012.

Please see more in the attached announcement.

For further information, Please contact:

Bengal Energy Ltd.
Chayan Chakrabarty, President & CEO
Bryan Goudie, CFO
(403) 205-2526
Email:
Website:

Media/investor enquiries:

Peter-John Lewis
Fortbridge
Tel: +612 9003 0477
Mobile: +61 416 290 604
Email: