Glen Rose Petroleum Corporation Announces Plans to Drill and Deepen Five Wells on Both the Wardlaw and Adamson Leases

KATY, Texas--(BUSINESS WIRE)--Glen Rose Petroleum Corporation (OTC: BB GLRP.OB) a developer of on shore US oil and gas assets, announced that over the next three weeks it will drill and deepen five wells on its Wardlaw and Adamson leases in Edwards County, Texas.

The Company will deepen two existing wells and drill three new wells to a depth of approximately 1,100 feet in order to accomplish its goals of increasing production and testing all three Basal Trinity Sand Zones. Significant research and reworking of data accumulated from over 160 well logs and cable tool records has identified the potential of the Upper, Middle and Lower Basal Sand Zones with shows of good live oil in all three zones.

Andrew Taylor-Kimmins, President and Chairman of Glen Rose Petroleum said, “Our plan is to continue to increase production in 2011 in order to become cash flow positive and attain profitability. We are optimistic that the basal trinity sands could significantly increase Glen Rose’s production. With the recent increase in capital from ABG Sundal Collier, we can commence drilling on our property for additional oil reserves and production.”

Glen Rose is currently producing oil approximately 60 barrels per day from approximately thirty re-worked wells on 375 acres of its 15,900 leased acreage. To date 136 wells have been drilled on the property, of which 92 are permitted for production with approximately 48 currently being brought back into operation.

About Glen Rose Petroleum Corporation

Glen Rose Petroleum Corporation, formerly United Heritage Corporation, was founded in 1981 and is focused on the development of on-shore U.S. oil and gas assets. Glen Rose has five leases covering 10,500 gross acres in the Wardlaw Field and 5,400 gross acres in the Adamson Ranch, both located in Edwards County, TX. The oil is categorized as "medium crude," the deposits are in the light gravity range of heavy oil at 18-22 API gravity.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based on currently available information and assumptions made by management. Although we believe that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or nonoccurrence of future events. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements, including the potential risks and uncertainties set forth in Item 1A of our Annual Report on Form 10-K for the year ended March 31, 2010. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.