Replies to post #9182 on BrewBilt Brewing Co (BRBL)

[DeeDog]

GRPR News - Hey there driver, great news just hit.
They're moving right along.
Dee

News for 'GRPR' - (Grid Petroleum Finalizes Financing Agreement)


Sep 27, 2012 (Close-Up Media via COMTEX) -- The Board of Directors announced
that Grid Petroleum has completed negotiations of an initial round of
convertible preferred financing in the amount of $2,500,000.00 by a private
Small Cap Venture Fund.

According to a release, the Company announced the terms of the financing are to
provide the company with a commitment to fund up to $2,500,000.00 during the
next 5 quarters of 2012. The financing will be available to the company in
tranches of $500,000.00 based upon completion of certain milestones by the
company concerning lease acquisition and field development.

The proceeds of the initial round of financing are to provide direct drilling
and field development working capital and expenses.

The Company will receive the first tranche of funding under the terms of the
agreement this next financial quarter.

The Company previously announced September 20.

Grid Petroleum Production Inc has entered into a Letter of Intent for the
Leasing and Commercial Oil and Gas development of a significant prospect in the
Northwest Premont area of Texas, not related to any Areas of Mutual Interest
previously Identified by Progas Services Inc, the current Joint Venture
Operator.

This prospect has identical Geology as the current Northwest Premont Field, with
shut in production from both Oil and Gas, not currently being produced.

It is anticipated that the company will begin the process of developing this new
prospect immediately. The prospect once developed has the potential to equal the
estimated recoverable Oil reserves of the North West Premont Field the company
is developing as a Joint Venture Partner.

"This Financing will allow the Company to continue to execute upon its business
plan to explore and drill it's new and existing lease hold prospects," states
company President James Powell, "The Company intents to begin the development of
the new significant lease opportunity upon receiving the first tranche of
funding."

The Company has calculated upon completion of development of the new prospect,
the company will have estimated recoverable oil reserves in the range of 75,000
to 150,000 barrels of oil per well. The Company anticipates the ability to drill
a minimum of 20 Oil wells.

The company is pursuing the development and control of all of its future
exploration and drilling business.

Grid Petroleum Corp. is a development stage company focused on the acquisition
and development of low cost high reward oil and gas prospects with infield
drilling for potential reserves in the United States and Canada.

More information:

www.gridpetroleum.com