Pemberton completes surveying and releases projected cash flow

CALGARY, May 19 /CNW/ - (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd. (Pemberton) is pleased to announce that it has received projected cash flows from its project manager for its upcoming Kindersley, SK project - Avon Hills 15-21-30-22W3M and 16-21-30-22W3M wells. Pemberton has completed surveying for these two LSD's. Below is the projected revenue prepared at a conservative price of $65/bbl - $70/bbl. These projected production numbers are based on the wells that are contiguous to our LSDs. Pemberton is still in the process of accepting offers for JV partners on its 16-21-30-22 W3M well.

    
    -------------------------------------------------------------------------
                                                                      Gross
                                                                      income
            Daily       Monthly     Daily      Monthly                  for
          Production  Production  Production  Production  Price/bbl   2 wells
    Month    (m3)        (m3)       (bbl)       (bbl)        ($)        ($)
    -------------------------------------------------------------------------
    1         40         1200        252         7560         65      491,400
    -------------------------------------------------------------------------
    2         40         1200        252         7560         65      491,400
    -------------------------------------------------------------------------
    3         40         1200        252         7560         65      491,400
    -------------------------------------------------------------------------
    4         40         1200        252         7560         65      491,400
    -------------------------------------------------------------------------
    5         40         1200        252         7560         65      491,400
    -------------------------------------------------------------------------
    6         40         1200        252         7560         65      491,400
    -------------------------------------------------------------------------
    7         36         1080        226         6780         70      474,600
    -------------------------------------------------------------------------
    8         36         1080        226         6780         70      474,600
    -------------------------------------------------------------------------
    9         36         1080        226         6780         70      474,600
    -------------------------------------------------------------------------
    10        36         1080        226         6780         70      474,600
    -------------------------------------------------------------------------
    11        32          960        201         6030         70      422,100
    -------------------------------------------------------------------------
    12        32          960        201         6030         70      422,100
    -------------------------------------------------------------------------
    

Projected Gross Income before operating expenses for the first year from these 2 wells is $5,691,000.00. At these projected rates, payout should be achieved within first 5 months of production. Pemberton would like to clarify its previous news release percentages after payout. After JV Partners have recouped their cost of drilling and completion, percentage will revert to 41.25 % to Pemberton and 41.25% to JV Partners of the gross production.

    
    On behalf of Board of Directors

    "Miroslava Antonuk"

    ---------------------
    Ms. Miroslava Antonuk, Director
    

TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN

SOURCE PEMBERTON ENERGY LTD.

For further information: For further information: PEMBERTON ENERGY LTD., 328, 1500 14th Street SW, Calgary, AB, T3C 1C9, PHONE: (403) 269-8424, FAX: (403) 269-8477

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