Bayou Bend Operations Update
February 2, 2009
| VANCOUVER, BRITISH COLUMBIA–(Marketwire - Feb. 2, 2009) - Bayou Bend Petroleum Ltd. (“Bayou Bend” or “the Company”) (TSX VENTURE:BBP) reports that due to concerns over cost overruns and the general refocus of the Company’s business strategy, Bayou Bend did not participate in the sidetrack well on the Smoothe Prospect (South Timbalier Block 49) operated by Mariner Energy, Inc. The Company was subject to a confidentiality agreement prior to results being released by Mariner Energy, Inc. Bayou Bend Acting President, Keith Hill, stated, “Our focus remains to reformulate our business strategy in the Company including the sale of the Gulf of Mexico assets or a business combination with other operators. The preservation of cash in this difficult market is a prime concern and we therefore elected not to put additional capital at risk on exploration with the risk of further cost overruns. The deadline for bids is February 11, 2009 and we would expect to announce the results of this process shortly thereafter.” 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, Acting President |
Bayou Bend Petroleum Ltd.
Keith C. Hill
Chairman and Acting President
(604) 806-3583
Email: khill@namdo.com
or
Bayou Bend Petroleum Ltd.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
Email: info@bayoubendpetroleum.com
Website: www.bayoubendpetroleum.com