Burleson Energy Limited (ASX:BUR) Rights Issue Update
Burleson Energy Limited (ASX:BUR) Rights Issue Update

Sydney, Mar 7, 2011 AEST (ABN Newswire) - Burleson Energy Limited (googlechartASX:BUR) provides the following proposed timetable to shareholders regarding the renounceable rights issue and also advises shareholders that it is the intention of the Board of directors to participate in the Rights Issue with Managing Director Michael Sandy taking up his entire entitlement and Chairman Norm Zillman taking up his entire entitlement as well as up to an additional A$400,000 worth of Burleson shares from any shortfall under the Rights Issue.

The proposed timetable for the rights issue is as follows:
--------------------------------------------------------------Lodgment of Prospectus       Prior to commencement of trading, with ASIC and ASX                      Thursday, 10 March 2011--------------------------------------------------------------Shares trade "ex-rights"                Tuesday, 15 March 2011and Rights trading commences on ASX --------------------------------------------------------------Record Date to determine                 Monday, 21 March 2011Entitlements under the Rights Issue  --------------------------------------------------------------Prospectus despatched                   Tuesday, 22 March 2011--------------------------------------------------------------Last day of Rights trading              Tuesday, 29 March 2011--------------------------------------------------------------Deferred Settlement Trading Begins    Wednesday, 30 March 2011--------------------------------------------------------------Closing Date for acceptances             Tuesday, 5 April 2011--------------------------------------------------------------Notify ASX of under-subscriptions         Friday, 8 April 2011--------------------------------------------------------------Allotment and issue of New Shares        Monday, 13 April 2011--------------------------------------------------------------Despatch of shareholding statements      Monday, 13 April 2011for New Shares --------------------------------------------------------------
Managing Director Michael Sandy said "This rights issue provides an opportunity for shareholders to expand their interest in the Company, and to share in what we believe is an exciting development at Heintschel as well as exploration upside in our prospects in Colorado County and elsewhere."

"We have a fully funded drilling and development program in place which we are expecting to recommence in May, and on completion of the rights issue, we will be in a strong position to pursue further exploration and development opportunities," he said.

Contact

Mike Sandy
Managing Director
Tel: +61-2-8252-6177
Fax: +61-2-8252-6178
Email: info@burlesonenergyltd.com
http://www.burlesonenergyltd.com



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