VANCOUVER, BRITISH COLUMBIA–(Marketwire - Sept. 14, 2009) - 

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES

Bayou Bend Petroleum (“BBP” or the “Company”) (TSX VENTURE:BBP), is pleased to announce that it has entered into an agreement with a syndicate of agents, led by GMP Securities L.P. and including Canaccord Capital Inc. and Raymond James Ltd., to issue on a marketed “best efforts” basis, 140 million subscription receipts (“Subscription Receipts”) at a price of $0.75 per Subscription Receipt, resulting in gross proceeds of $105 million. The agents will receive a commission equal to 5% of the gross proceeds and have agreed to make a charitable donation to Lundin for Africa in an amount equal to 0.5% of the gross proceeds. Each Subscription Receipt will entitle the holder to receive one common share (“Common Share”) without further payment or action on the part of the holder, upon the receipt of required shareholder approvals with respect to the Company’s agreements (the “Agreements”) for the acquisition of working interests in three separate exploration and development blocks with the Kurdistan Regional Government in the region of Kurdistan in Northern Iraq, previously announced on August 31, 2009.

Gross proceeds of the offering will be held in escrow pending receipt of shareholder approval of the Agreement, following which they will be released to the Company and will be used to fund commitments related to the Company’s Agreements, for ongoing exploration and development activity and for general corporate purposes. The offering is subject to normal regulatory approvals, including approval of the TSX Venture Exchange. Closing is expected to occur on or before September 30, 2009.

Cautionary Statements

This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company’s capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

On behalf of the Board

Keith C. Hill, President


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  Bayou Bend Petroleum
Keith Hill
Chairman and President
(604) 806-3583
khill@namdo.com

or

Bayou Bend Petroleum
Sophia Shane
Corporate Development
(604) 689-7842
sophias@namdo.com