CALGARY, Oct. 10 /CNW/ - (TSX.V:PBT, FSE:P5W) Pemberton Energy Ltd.
(Pemberton) wishes to announce that it has been advised by Hampson-Russell
Limited Partnership of Calgary that in addition to the AVO (Amplitude Versus
Offset) results, Pemberton will receive its inversion test results on two new
oil zones of interest, at the upcoming presentation to the Company's board of
directors, within the next 6 business days. Pemberton's geological and
geophysical team advised conducting an inversion test in order to identify
reservoir potential more accurately and to minimize risk. The Company will
provide a market update upon receipt of the AVO test and inversion test
Management is excited with a possibility of increasing the Company's oil
production by having oil targets on its Peace River Arch property, at a time
that oil prices have been hovering around $80 per barrel in recent weeks,
after hitting an all-time high in New York and London.
Director Mr. Jerry Hale states: "Management feels that Pemberton's future
looks very bright with a possibility of drilling multiple wells, both oil and
gas, on its Peace River Arch property, while adding to shareholder value."
Pemberton Energy's Ltd. 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 Board of Directors
Ms. Miroslava Antonuk Director
TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS
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