CALGARY, June 22 /PRNewswire-FirstCall/ - (TSXV: PBT, FSE: P5W) Pemberton Energy Ltd. ("Pemberton") wishes to announce the following update. Management would like to advise that Pemberton has finalized mineral lease continuations that relate to the Montney asset discussed in the Company's June 17th, 2009 news release. Pemberton's team has also identified two lucrative pinnacle reefs on these mineral rights and will be conducting an evaluation to determine if these pinnacle reefs are oil bearing. In addition, Pemberton will conduct evaluation on other anomalies that have been mapped out from our 3D seismic to determine their feasibility.
Management is also in negotiations for additional mineral rights acquisitions in the area with mineral rights from surface to basement that are contiguous to the current Montney two horizontal staged fracture well program.
President Richard Saxon states: "The response to our June 17, 2009 news release regarding our Montney play that could yield $53,000,000 in probable net revenue over 14 years, has encouraged possible financing interest via flow through private placements and potential joint venture opportunities. We are excited to have the opportunity to qualify these two potentially oil bearing pinnacle reefs on the same 640 acres as our Montney project."
Pemberton Energy Ltd's principal business is the acquisition, exploration and development of petroleum properties. The company continues to focus on its primary corporate objective: the creation of value for shareholders by identifying oil and gas accumulations with relatively low geological risk but with substantial reserve potential.
On Behalf of Pemberton Energy Ltd.
"Miroslava Antonuk"
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Miroslava Antonuk, Director
SOURCE Pemberton Energy Ltd.
For further information: please contact the Company at (604) 269-9801 or info@pembertonenergy.ca
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