Bering Exploration Announces Its South Texas Prospect Has Tested Positive for Oil

HOUSTON, Nov. 30, 2010 /PRNewswire/ --  Bering Exploration, Inc., (Pink Sheets: OCOL) announced today that its South Texas prospect has tested positive for oil in its initial test phase. This well was drilled to a depth of approximately 10,000 feet to test the Oligocene Frio trend and the initial test has proven that one of the lower zones has tested positive for oil.  Further testing is required to determine if this zone will be commercially viable. This prospect originally had potential gross reserves of 5,000,000 barrels of oil and 46 BCF of natural gas.  Bering's interest is a 5% working interest after pay out in this prospect.

The company recently announced that it has entered into a Letter of Intent to participate in a new prospect located in the Gulf Coast area that has potential gross reserves of 120 BCF of natural gas and up to 10 million barrels of oil. Based upon recent prices this equates to a total of $1.3 billion dollars in potential gross revenue of which Bering's working interest would be 2.5% or $23 million, or $0.99 per share, over the life of the prospect. There is no guarantee that this prospect will be successful or that these numbers will be achieved due to production and/or price fluctuations.

"We believe that these initial test results confirm our strategy of seeking out low risk drilling opportunities." stated Steven Plumb, VP of Finance of Bering.  "Our recent Letter of Intent in the Gulf Coast area is another example of this strategy."

About Bering Exploration, Inc.

Headquartered in Houston, Texas, Bering Exploration, Inc. is an independent oil and natural gas company that focuses on indentifying, evaluating, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region. Additional information about Bering can be found on the web at www.beringexplore.com.

Safe Harbor Statement

This press release contains statements that may constitute forward-looking statements and are based upon assumptions that management believes to be reasonable.  A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of exploration efforts and the timeliness of development activities, leasing of the target acreage, fluctuations in oil and gas prices, access to acquisition and development capital, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. For additional information about Bering's future business and financial results, refer to Bering's Quarterly Reports on Form 10-QSB and Annual Report on Form 10-KSB and other reports, which are on file with the Securities and Exchange Commission. Bering undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.

SOURCE Bering Exploration, Inc.

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