Pemberton plans to acquire majority oil production in the Panny well.

CALGARY, Oct. 20 /CNW/ - (TSXV: PBT, FSE: P5W) Pemberton Energy Ltd. ("Pemberton") wishes to announce that it has renegotiated terms of the Agreement previously announced on April 22, 2009 to acquire an additional 50% in the Panny 8-25-095-W5M oil production. Pemberton previously announced that 50% in this Panny well oil production was to be acquired in exchange for $50,000.00 plus GST and 8,000,000 of PBT common shares. This has been renegotiated to $50,000.00 plus GST and 5,000,000 of PBT common shares. This would give Pemberton 75% of the cash flow from this well. This acquisition is subject to regulatory approval.

Pemberton also wishes to advise that it has increased the amount of its previously announced on September 18, 2009 private placement at 5 cents per unit to up to $250,000.00. Each unit shall consist of one non-flow-through share and one non-flow-through warrant entitling the holder to purchase one additional share, for a period of two years from the closing date, at an exercise price of five cents per share if purchased in the first year, and 10 cents per share if purchased in the second year. Cash or stock commission at the maximum allowable by the TSX Venture Exchange amount may be payable to agents.

    
    On Behalf of Pemberton Energy Ltd.

    "Miroslava Antonuk"

    ---------------------------
    Miroslava Antonuk, Director
    

SOURCE PEMBERTON ENERGY LTD.

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