Pemberton Energy Ltd. - Update on drilling progress



    CALGARY, March 10 /CNW/ - (TSX.V:PBT, FSE:P5W) Pemberton Energy Ltd. is
pleased to announce that it has received a report on the progress of drilling
on the exploratory well Pemberton Gage 10-15-82-3 W6M from Chapman Petroleum
Engineering Ltd. On Friday, March 7, 2008, the drill depth was at 1220 m.
within the Triassic Montney Formation five days after spud on target to reach
an estimated total depth of 2337 m. in the Precambrian basement and thus fully
evaluate the entire sedimentary section at the location for any potential new
oil and/or gas pools. Gas detection equipment has been fully operational on
the well since drilling out surface casing at 389 m. and has to date indicated
higher than background gas readings in two zones within the Cadotte Formation
at 560 to 562 m. and 574 m. Two other zones within the Gething Formation at
959 to 961 m. and 1001 also have higher then background gas readings which
will be evaluated further when a suite of petrophysical well logs are run
after total depth is drilled.

    BACKGROUND INFORMATION

    A geophysical interpretation concentrating on the deeper Paleozoic
potentially oil-bearing sedimentary section was done on section 15-82-3W6M by
Brian Henry P.Geoph., utilizing a high quality 3D seismic program acquired by
Pemberton Energy Ltd. last year as well as the seismic inversion of this data
done by Hampson-Russell in Calgary. Two pronounced structural-stratigraphic
features have been identified, one on the south half and the other on the
north half of the section. Upon technical review by Pemberton's geophysical
and geological consultants, it was recommended that initially the northern
anomaly be drilled first to an approximate depth of 2400 meters to the
Precambrian basement at the currently drilling location. This location will
test a pronounced structural-stratigraphic anomaly with potential productive
units in two formations, the Wabamun and Granite Wash. The proposed drilling
of the southern anomaly will await a technical review of the results of
drilling the northern anomaly.

    GEOLOGY AND GEOPHYSICS

    The Granite Wash Formation is the basal unit of the sedimentary section
in this area and is a clastic formation formed by the reworking of basement
debris as the Devonian sea transgressed onto the Peace River Arch. The
formation can range in thickness from ten to fifty meters of interbedded shale
and arkosic sandstones. The sandy interval can range from four to twenty
metres in thickness while pay zones in the Granite Wash Formation are always
oil-bearing with net pay typically two to five meters in thickness. The
exploratory well at 10-15 is being drilled on a mapped one-well four-way
structural closure at the Granite Wash level adjoining a normal fault
immediately to the north. This feature is a potential reservoir trap which
would be sealed by the impermeable carbonate deposits of the Winterburn Group.
    The normal fault extends up through the entire Devonian section and also
contributes to a one-well four-way structural closure at the Wabamun level,
the second target zone at the proposed location. The Wabamun Formation is the
uppermost Devonian unit in the area and is a widespread carbonate shallow
shelf deposit approximately 175 meters in thickness with the top of the
formation at an approximate depth of 2100 meters. The formation is subdivided
into four members which starting from the base are the Dixonville, Whitelaw,
Normandville and Cardinal Lake members. The two upper members are productive
when dolomitized and sealed by surrounding impermeable limestone.
Dolomitization can occur when fluids migrate along fractures associated with
normal faults such as the one immediately to the north of the proposed
location. This has occurred at the Eaglesham and Tangent oil fields
approximately three townships to the south. Typical net pays in these fields
range from fifteen to fifty meters. However, there is just as likely that gas
would have been trapped in any potential reservoir in the Fairview area as
there are Wabamun gas fields three townships to the west in the George and
Royce fields.
    Additionally, as a result of the discovery on well number 10-15-82-3 W6M
the operator has begun and drilling both the rathole and the mouse hole on our
6-15-10-82-3 W6M well location.
    Richard Saxon, President states: "We are very pleased with the progress
of our first well and results we are seeing en route to our primary oil target
zones. We feel that the technical information derived from this well has
identified multiple sections of potential pay and that the Company has
confirmed the previously announced potential economics as stated in our news
release date October 25, 2006."

    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"

    Ms. Miroslava Antonuk Director

    TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE
    CONTENTS HEREIN





For further information:

For further information: please contact the Company at (604) 269-9801 or
info@pembertonenergy.ca

Organization Profile

PEMBERTON ENERGY LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890