Stonebridge Resources Exploration (SRCX)

[Fishing at Surfside]

News!

HOUSTON, March 20, 2007 (PRIME NEWSWIRE) -- Stonebridge Resources Explorations Ltd. (Pink Sheets:SBRX) (GR:S3C) has signed a Memorandum of Understanding to purchase 51% of Global Energy Gas and Power Corporation. Global Energy has approved contacts and service agreements with Petroleos de Venezuela (PDVSA).

PDVSA is the Venezuelan state-owned petroleum company. It has activities in exploration, production, refining and exporting oil, as well as exploration and production of natural gas.

Stonebridge CEO Phillip Christian stated, "This is a huge step forward for the Company given the opportunity to expand our business philosophy and presence into South America. This will undoubtedly be advantageous to Stonebridge, creating new expanding business developments in the area. We look forward to building a continued long term business relationship with Petroleos de Venezuela (PDVSA)."

About Stonebridge Resources Exploration, Ltd.

Stonebridge Resources Exploration, Ltd. (www.otcsbrx.com) has embarked on a new direction which is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. Its focus has shifted to aggressively acquiring working interests in crude oil and natural gas properties. The company intends to use modern development methods along with improved drilling technologies to increase well production by up to 500%. The company's goal is to achieve a high return on its investment by limiting its acquisition costs and by practicing sound and intelligent approaches to oil and gas exploration and development.