Berens Energy Ltd. (“Berens”) is a growth-oriented oil and natural gas exploration and production company with concentrated production and land bases in the Pembina, Lanfine, and Deep Basin regions of Alberta.

First Quarter 2009 Operating Highlights

Berens is pleased to provide our first quarter results that demonstrate ongoing drilling success and continued strong capital efficiency:

• Drilling - Drilling during the first quarter saw a continuation of our 2008 success.
• Year-to-date drilling has been 80% successful on 5 (2.8 net) completed in the quarter. One of the successful wells was our second horizontal well which tested over 15 million cubic feet per day and was brought on in March at a restricted rate of 4 million cubic feet per day.


• Our finding and development cost efficiency continued from our top decile results in 2008 with internally estimated finding and development costs in the $12.00/boe range.


• Production - Q1 2009 production averaged 4,550 boe/d, up 19% over Q1 2008. Production was down 6% compared to the fourth quarter of 2008 as production was restricted by approximately 250 boe/d in Lanfine to preserve net asset value for certain wells under the new royalty framework that took effect on January 1, 2009.


• Capital Spending - Planned capital spending for 2009 has been reduced to $26 million from the original budget of $40 million due to weak natural gas prices. Average 2009 production is expected to be approximately 4,400 boe/d, an increase of 4% over average production in 2008.


• Funds from Operations - Funds from operations for Q1 2009 were $5.6 million ($0.06 per share), down 39% compared to Q1 2008. Higher production and lower per unit operating costs were more than offset by weaker commodity prices.


• Land - Berens' total undeveloped land currently stands at 81,000 net acres. The undeveloped land base increased in quality as 12 (8.5 net) sections of undeveloped land has been added during the first quarter of 2009 with 11 of those sections added in the Pembina growth area. We continue to have approximately 85 locations in our drilling inventory and are well positioned to accelerate activity when natural gas prices improve.