VANCOUVER, BRITISH COLUMBIA–(CCNMatthews - Feb. 23, 2007) - Bayou Bend Petroleum Ltd. (TSX VENTURE:BBP) (“Bayou Bend” or “the Company”) is pleased to announce that it was the apparent high bidder for 16 tracts of land in the State of Louisiana oil and gas lease auction held on February 6th, 2007. The successful bids cover 4,004 acres of shallow water leases in the Marsh Island project area bringing the total gross number of acres held by the Marsh Island Project Group to over 12,161 total acres of which Bayou Bend (operator) will hold a 35.5809% working interest. Leases are expected to be awarded by the State of Louisiana in the next 30 days.

Clint Coldren, President and CEO of Bayou Bend, stated, ” We are very pleased with the results of the lease sale and have now acquired the majority of acreage on all of our top exploration prospects in the offshore portion of the Marsh Island EGA Phase 1 area. We look forward to an aggressive drilling campaign in the next 12 months to evaluate the potential of these large scale prospects.”

The Marsh Island project includes a quality portfolio of gas/condensate assets onshore/offshore Marsh Island in the Gulf of Mexico, together with a 40 MMcfgpd production facility tied into the existing regional pipeline infrastructure. The Company’s first drilling program is currently underway on the Greylock prospect.

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 harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

On Behalf of the Board

Clinton W. Coldren, President


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 


Bayou Bend Petroleum Ltd.
Clinton Coldren
President
(504) 561-1151
Email: coldren@bayoubendpetroleum.com

or

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

or

Bayou Bend Petroleum Ltd.
Keith Hill
Chairman
(604) 806-3583
Email: khill@namdo.com