Amendment of warrant terms

    CALGARY, Jan. 27 /CNW/ - (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd. (the
"Company") wishes to announce that it has applied to the TSX Venture Exchange
(the "Exchange") to amend the terms of the 3,000,000 non-flow through warrants
and 3,960,000 flow-through warrants issued on March 26, 2008 (the "Warrants").
    Subject to Exchange approval, the term and exercise price of the Warrants
will change from:
    "One Warrant and $0.35 in the first year is required to purchase each
share if purchased on or before the 1st anniversary of the date of issuance of
the Warrant." to "One Warrant and $0.135 are required to purchase one common
share if purchased on or before the 2nd anniversary of the date of issuance of
the Warrant, subject to the following acceleration provision: if the closing
trading price for the common shares as traded on the TSX Venture Exchange, as
the case may be, equals or exceeds CDN$0.135 per common share for 10
consecutive trading days (collectively, the "Premium Trading Period"), then
the exercise period shall be reduced to 30 calendar days beginning after the
7th calendar following the Premium Trading Period."

    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 Board of Directors

    "Richard Saxon"
    Richard Saxon, Director

    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the content
    of this press release.

For further information:

For further information: please contact the Company at (604) 269-9801 or

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