SISM Research Issues Independent Report On Blugrass Energy

  SISM Research Issues Independent Report On Blugrass Energy

   Junior Oil and Gas Company Focusing its Business Activities in Texas and
                                   Oklahoma

Business Wire

NEW YORK -- June 07, 2011

(Investrend Research Syndicate) -- Ernest C. Schlotter, a senior analyst with
Zurich, Switzerland-based SISM Research and a four star analyst according to
StarMine, has issued a nine-page report on Blugrass Energy, Inc. (OTC: BLUG)
(OTC: BLUGD) dated June 3, 2011, which includes a 12- to 18-month stock target
valuation and analyst's rating/recommendation.

The full report includes important disclosures, disclaimers and analyst
information. SISM Research advises investors to exercise a reasonable degree
of due diligence before trading in the equities of any public company,
including carefully reading entire analyst reports and report disclosures, and
then only in conjunction with advice from a registered financial advisor or
broker. SISM Research further advises that any analyst rating, recommendation,
target valuation, price target or opinion should be considered merely a
portion of an investor’s total investigative process.

A complimentary copy of the report, which includes important disclosures,
disclaimers and analyst’s qualifications, can be directly downloaded for a
limited time via the Investrend Research Syndicate (at
http://www.investrend.com/BLUG-Initial.pdf), and via SISM Research (at
http://www.sism.com/researchreportsblug.htm).

According to analyst Schlotter’s report:

“In the spring of 2011 Blugrass Energy, Inc., acquired an 87.5% working
interest on 4,807 acres of highly prospective oil and gas leases in the Val
Verde Basin in Texas. The lease is geologically on trend with several giant
gas fields currently under production by major oil and gas companies.”

“To date, more than $4 million has been spent on the property for leases and
3D-seismic, and three proven pay zones have been identified. The high quality
3D-seismic data, which has been interpreted by a geoscientist with a
high-level of expertise in the Basin, identifies a minimum of 77 drilling
locations.”

“It is obvious that this prospect represents an exceptional opportunity to
develop significant conventional, long-lived gas reserves, based on the newest
updated Economic Evaluation report that has formed the basic study for our
Company analysis,”

“The estimated ultimate recovery (EUR) for the Childress Prospect has been
calculated to be 235 Bcf of natural gas. According to the report, in a short
time period Blugrass has secured an impressive inventory of multi-year
drilling opportunities, with company-making potential.”

SISM Research

SISM Research (http://www.sism.com) is a private investment research firm,
based in Zurich, Switzerland, offering independent, fundamental research on
public companies since 1995. SISM Research publishes research on micro- to
small-cap companies trading on the OTC, NASDAQ, AMEX and TSX stock exchanges.
SISM research coverage platforms are geared toward institutional and
individual investors in both North America and in Europe. SISM Research, as a
member-provider of the FIRST Research Consortium, takes steps to ensure the
independence and integrity of SISM’s published research that exceed those of
the CFA Institute Code of Ethics and Standards of Professional Conduct and the
CFA-NIRI Guidelines, by following the exacting “Standards for Independent
Research Providers”, which are also in accordance with guidance set forth by
U.S. Securities and Exchange Commission’s Advisory Committee on Smaller Public
Companies.

Blugrass Energy

Blugrass Energy, Inc., is a development stage oil and gas development and
exploration company based in the United States The goal of Blugrass is to grow
through internally generated and developed prospects, participation with
industry partners in oil and gas exploration and in targeted joint ventures.
Additional information is available via the company’s website (at
http://www.riograndepetroleum.com/).

The Investrend Research Syndicate

The Investrend Research Syndicate, a proprietary entity of Investrend
Communications, Inc., distributes reports published by sources dedicated to
unbiased, reliable analytics and complete transparency. The primary measure
for determining those sources is the “Standards for Independent Research
Providers.”

“Safe Harbor” Statement

This announcement may contain forward-looking information within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), including statements regarding potential sales, the success
of the company's business, as well as statements that include the word
"believe" or similar expressions. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of Blugrass Energy, Inc., to
differ materially from those implied or expressed by such forward-looking
statements. Such factors include, among others, the risk factors included in
reports filed with the SEC under the Exchange Act. This press release speaks
as of the date first set forth above and Blugrass Energy, Inc., management
assumes no responsibility to update the information included herein for events
occurring after the date hereof. Actual results could differ materially from
those anticipated due to factors such as the lack of capital, timely
development of products and services, inability to deliver products and
services when promised, inability of potential customers to pay for ordered
products and services, and political and economic risks inherent in
international trade.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission permits resource
companies, in their filings with the SEC, to disclose only proved reserves
that a company has demonstrated by actual production or conclusive formation
tests to be economically and legally producible under existing economic and
operating conditions. We may use certain terms on this press release, such as
those related to prospective resources, that the SEC's guidelines strictly
prohibit us from including in filings with the SEC. US investors are urged to
consider closely the disclosure in our Form 10K. You can also obtain this form
from the SEC by calling 1-800-SEC-0330. Additional information may be found at
the SEC website.

Disclaimer

The OTC Bulletin Board Exchange has neither approved nor accepts
responsibility for the adequacy or accuracy of the above news release.

Disclosures

SISM Research (“SISM“) has researched and written the above-referenced report
without any input, contact, advice, or review from the company. Information
was gathered by SISM from public sources of information including, but not
limited to press releases, company Web sites, and SEC filings. Blugrass
Energy, Inc. (“Blugrass“) has paid SISM five thousand U.S. dollars for
continuing independent analyst coverage on Blugrass. In addition, Blugrass has
paid Investrend Communications, Inc. (“Investrend”) two thousand three hundred
fifty U.S. dollars for a “distribution and visibility” program, provided by
the Investrend Research Syndicate in support of SISM's Blugrass research
coverage. No promise of favorable point of view or opinion was or has been
made by SISM or the analyst(s) writing for SISM, to the subject company.
Further, it is SISM’s policy that neither the firm nor its principals, nor the
firm's assigned and/or other writing analyst(s) own or trade shares of any
subject companies or subject companies' "competitors". Additional information
about Blugrass Energy is available via the company’s website (at
http://www.riograndepetroleum.com/).

Contact:

SISM Research
Tel: (+41) 44-881-2020
Email: research@sism.com
Website: http://www.sism.com
 
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