Direct Response Media Announces Acquisition of Oil Assets and Name Change

PR Newswire

posted: 86 DAYS 13 HOURS AGO

HILTON HEAD ISLAND, S.C., Sept. 3 /PRNewswire/ -- Direct Response Media Inc. (OTC: DRMO) announces acquiring an 80% working interest in 30,000 acres of oil & gas leasehold in central Oklahoma. The Company also acquired 3D seismic data covering 86 square miles.

The Company has purchased the acreage and seismic package for 23 million shares of its common stock and assuming approximately $6 million of secured debt and $1.35 million in other payables. Additionally, the Company has optioned full column rights to 41,000 acres of additional leasehold in the same area for 5 million shares of stock and the assumption of other obligations on the property.

The leasehold rights acquired or optioned are undeveloped with no proved reserves attributed to the acquisitions. However, 277 million barrels of oil were historically produced, and the acreage is also prospective for gas production from the Woodford Shale.

A 3 year drilling program focused on oil prospects and targeted from the existing 3D seismic will be initiated in the 4Q of 2009. Testing of the Woodford Shale for natural gas is also planned.

The Company has changed its name to "Brigadier Energy, Inc." and anticipates the name change will be implemented by FINRA shortly. For now, the shares will continue to trade under the symbol "DRMO".

The Company has engaged the investment banking firm of Jesup & Lamont to provide general financial advice, and to assist the Company in securing funding for development of the oil prospects and the Woodford Shale gas targets.

The source of this news release is Direct Response Media, Inc. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act. There can be no assurance that the forward-looking statements included in this press release will prove to be accurate. The inclusion of these statements should not be regarded as a representation by Direct Response Media that the plans or objectives outlined will ultimately be fulfilled as anticipated.

SOURCE Direct Response Media Inc.