Brigham Exploration Co (BEXP) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2005

Brigham Exploration Co

CIK: 1034755 Ticker: BEXP

Exhibit 99.1

Brigham Exploration Announces Joint Ventures and Provides Operational Update

AUSTIN, Texas, Feb. 21 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP) announces new joint ventures in South Louisiana and in a new shale play, and provides an update of its operational activity.


Brigham recently closed on a new joint venture with Penn Virginia (NYSE: PVA) to explore and develop 3-D delineated projects in the Southern Louisiana Miocene and Upper Oligocene trends. In addition, Brigham expects to close soon on two other joint ventures with a private operator in the same trend. Brigham views these projects as a logical extension of its Gulf Coast Frio trend, given that the company will utilize its geophysical, geological and operational expertise to explore potential reservoirs in similar geologic settings to that of the Frio in Texas.

The Bayou Postillion and Mystic Bayou prospects were generated by Penn Virginia from the interpretation of an extensive 3-D seismic inventory acquired in the region in recent years. As part of the joint venture with Penn Virginia, Brigham has committed to drill at least three wells, and expects all three to commence drilling in 2006. Brigham estimates that it will spend approximately $15 million in the projects in 2006.

Bayou Postillion Project, Iberia Parish -- Brigham will operate the drilling of the first of these wells, the Cotten Land Corp. #1, which Brigham expects to commence in either late March or April. Brigham will retain a 41% after casing point interest in the Cotten Land Corp. #1, which directly offsets and is expected to encounter the Upper Oligocene objective approximately 300 feet high to a recent discovery. The offsetting well was completed in August of 2005 at 10 MMcfe per day, and at last report was continuing to produce at that rate. In addition, seven wells in an adjacent fault block have produced approximately 112 Bcfe from the same interval.

Also in Bayou Postillion, but in a different fault block, Brigham will operate the drilling of the Cotten Land Corp. #2 with an approximate 36% working interest. Brigham expects to spud this well immediately following the Cotten Land Corp. #1. With success, two additional wells could be drilled to fully develop the area.

Mystic Bayou, St. Martin Parish -- Brigham will also operate the drilling of the Williams Land Company #1 well in Penn Virginia’s Mystic Bayou project. Brigham and Penn Virginia have identified at least three fault blocks to test, all three of which are expected to encounter the Miocene primary objectives structurally high to two wells that have combined to produce over 50 Bcfe to date. Brigham expects to retain an approximate 48% working interest in the Williams Land Company #1, which is expected to commence during the third quarter.

Leuthen and Plassey Prospects, Jefferson Davis Parish -- Subject to closing of joint venture agreements with a private operator, Brigham plans to operate and commence the Leuthen #1 during the second quarter. Brigham will retain a 33% working interest in the Leuthen #1, which will be drilled to a depth of approximately 12,300 feet. Primary objectives include the Herpin, Lower Vicksburg and Yegua formations, all of which exhibit seismic bright spots, and cover approximately 250 acres. Brigham plans to utilize the same drilling rig used to drill the Leuthen #1 to subsequently drill the Plassey #1. The Plassey #1 will also test a Yegua bright spot over an approximately 250 net acre closure at a depth of approximately 12,500 feet. Brigham expects to retain a 24% working interest in the Plassey #1 and expects results in July.

The following information was filed by Brigham Exploration Co (BEXP) on Thursday, February 23, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: BEXP
CIK: 1034755
Form Type: 10-K Annual Report
Accession Number: 0000950129-06-002134
Submitted to the SEC: Wed Mar 01 2006 5:07:55 PM EST
Accepted by the SEC: Wed Mar 01 2006
Period: Saturday, December 31, 2005
Industry: Crude Petroleum And Natural Gas

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