Magnolia Petroleum (MAGP.LN) DOING GREAT AS WE KNEW THEY WOULD

Magnolia Petroleum

Oil & Gas Exploration and Production MAGP (FTSE AIM ALL SHARE)

Production Update  Magnolia Petroleum yesterday announced extremely positive results from three wells on its Bakken Shale / Three Forks Sanish acreage. The Skunk Creek 15H well targeted the Three Forks Sanish and achieved highly favourable initial production of a reported 2,303 bopd. This is positive news for Magnolia as not only does it enhance the company`s production by a net 10 bopd, but the positive results are also likely to spur drilling activity in the formation, offering Magnolia more opportunities for participation in wells. Furthermore, the production rate indicates that payback will be achieved swiftly on this well. Skunk Creek 14H targeted the Bakken Shale and initial production has been recorded at 212 bopd (1 bopd net to Magnolia). The Stocke 1-4-9H well showed initial production of 295 bopd (7 bopd net to Magnolia). On the back of these positive results, we re-iterate our ‘Buy` recommendation for Magnolia Petroleum and our 3.6p 12-month target price. The additional production will enhance Magnolia`s revenue stream, strengthening the company`s ability to participate in an increasing number of wells, and move it towards a step-change in attributable production. The rate of production exhibited by the Three Forks Sanish well hints at potential upside as regards reserves attributable to Magnolia`s drilling locations within this formation.

Brazilian Gold Corp BGC. TSX.V. Great Results From Suribim Signal Potential Early Start of Production

Brazilian Gold Identifies Thick Intervals of Near Surface Oxide Gold Mineralization at the Surubim Project, Brazil

Brazilian Gold Corporation (TSXV: BGC) is pleased to report thick intervals of near surface oxide mineralization in 2011 and historic drill holes at the Surubim project, Brazil. Surubim is a road accessible exploration project located approximately 75 km southwest of the Company's flagship São Jorge project.

Highlights

* Oxide intersections at Patoa:
 - 88.39 m grading 2.00 g/t gold (DD06SB04),
 - 34.26 m grading 2.60 g/t gold (DD06SB18),
 - 101.08 m grading 0.52 g/t gold (DD06SB20),
 - 26.4 m grading 0.56 g/t gold (PAD-003-11), and
 - 88.4 m grading 0.52 g/t gold (PAD-004-11).
* Oxide intersection at Colonia:
 -  58.10 m grading 1.57 g/t gold (DD07SB25)
* Oxide intersection at Tucunare:
 -  34.96 m grading 0.53 g/t gold (DD05SB11).
* Potential for near surface, rip able oxide resource requiring little to no drilling and blasting.
* Potential for low cost, bulk mining and processing.

Ian Stalker, CEO of Brazilian Gold, commented "The Company is extremely encouraged by the thick intervals of near surface oxide gold mineralization as well as the deeper primary gold mineralization intersected on the Surubim Project. The potential to add significant ounces that could quick ly be brought into production requiring a small amount of capital and at a low operating cost makes for a compelling story. To this end, a drill program to determine the lateral continuity along and across the strike of this laterite hosted gold mineralization is planned for 2012".