This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

Brek Released by Decision of British Columbia Securities Commission

16 16 2002

LONDON - December 12, 2002 - Brek Energy Corporation (NASDAQ OTC:BB: BREK, BSX: BREK, BREK.BH) today announced that the British Columbia Securities Commission has issued a decision which releases the company from the previous order banning trading in and purchasing securities in British Columbia and engaging in investor relations activities in British Columbia. The decision also releases Rick Jeffs, the company's former president and CEO. Vallenar Energy Corporation and its former president and CEO, Jeff Paquin, had previously been released.

"Brek Energy is pleased that the British Columbia Securities Commission has released the company from all orders." said Ian Robinson, Brek's chairman, "We are also pleased that Rick Jeffs, Vallenar Energy Corp and Jeff Paquin have also been released. Brek and Vallenar can now continue to review their properties and reorganize administration."

The company has a new investor relations group and inquiries can be forwarded to info@brekenergy.com or call 877 360-0988.