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VANCOUVER, BRITISH COLUMBIA–(CCNMatthews - Feb. 26, 2007) - Bayou Bend Petroleum Ltd. (TSX VENTURE:BBP) (“Bayou Bend” or “the Company”) is pleased to announce that Petrotech Engineering Ltd. has prepared an updated engineering and economic evaluation of the Marsh Island project in accordance with NI 51-101 with an effective date of February 1, 2007 (summary report will be available on www.sedar.com).

The report reflects the Company’s 35.5809% participating interest in the Marsh Island project.

The following excerpted Constant Case Before Tax reserve estimate is based on a gas price of $7.23/MMBtu (Henry Hub price) and an oil price of $59.09/bbl (West Texas Intermediate) as of February 1, 2007.
 


---------------------------------------------------------------------------
                            Marsh Island Project
   Summary of Proved + Probable + Possible Reserves and Cash Flow Values
                         Constant Case Before Tax
---------------------------------------------------------------------------
                                            35.5809%
                                     Participating Interest
---------------------------------------------------------------------------
                                        Gas      Condensate         NPV 10%
Reserve Category                      (MMcf)          (Mbbl)        (MMUS$)
---------------------------------------------------------------------------
Proved Developed                        260            1.89           0.50
Non-Producing
---------------------------------------------------------------------------
Probable Undeveloped                  8,166            0.82          43.41
---------------------------------------------------------------------------
Proved + Probable                     8,426            2.71          43.91
---------------------------------------------------------------------------
Possible Undeveloped                 16,480           12.57          74.96
---------------------------------------------------------------------------
Proved+ Probable+ Possible           21,905           15.28         118.87
---------------------------------------------------------------------------



---------------------------------------------------------------------------
                            Marsh Island Project
                       Prospective Resources Summary
                         Constant Case Before Tax
---------------------------------------------------------------------------
                                             5.5809%
                                     Participating Interest
---------------------------------------------------------------------------
Estimate                                Gas      Condensate         NPV 10%
                                       (Bcf)          (Mbbl)        (MMUS$)
---------------------------------------------------------------------------
Low                                      66           1,292            313
---------------------------------------------------------------------------
Best                                    784          25,833          3,894
---------------------------------------------------------------------------
High                                  2,322         113,744         10,902
---------------------------------------------------------------------------

 
 



The Marsh Island project includes a quality portfolio of gas/condensate assets onshore/offshore Marsh Island in the Gulf of Mexico, together with a 40 MMcfgpd production facility tied into the existing regional pipeline infrastructure. Numerous prospects and leads have been identified on new 3D seismic and the Company’s first drilling program is currently underway on the Greylock prospect.

Bayou Bend President Clint Coldren stated, “We are very pleased that the large resource base we believe is associated with the exploration prospects in our Marsh Island Project have been confirmed by independent evaluation. We look forward to confirming this potential in our upcoming drilling program.”

Cautionary Statements

This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company’s capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

On Behalf of the Board

Clinton W. Coldren, President


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 


Bayou Bend Petroleum Ltd.
Clinton Coldren
President
(504) 561-1151
Email: [email protected]

or

Bayou Bend Petroleum Ltd.
Keith Hill
Chairman
(604) 806-3583
Email: [email protected]

or

Bayou Bend Petroleum Ltd.
Sophia Shane
Corporate Development
(604) 689-7842
Email: [email protected]


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