CALGARY, June 22 /CNW/ - (TSXV: PBT, FSE: P5W) Pemberton Energy Ltd.
("Pemberton") wishes to announce the following update. Management would like
to advise that Pemberton has finalized mineral lease continuations that relate
to the Montney asset discussed in the Company's June 17th, 2009 news release.
Pemberton's team has also identified two lucrative pinnacle reefs on these
mineral rights and will be conducting an evaluation to determine if these
pinnacle reefs are oil bearing. In addition, Pemberton will conduct evaluation
on other anomalies that have been mapped out from our 3D seismic to determine
Management is also in negotiations for additional mineral rights
acquisitions in the area with mineral rights from surface to basement that are
contiguous to the current Montney two horizontal staged fracture well program.
President Richard Saxon states: "The response to our June 17, 2009 news
release regarding our Montney play that could yield $53,000,000 in probable
net revenue over 14 years, has encouraged possible financing interest via flow
through private placements and potential joint venture opportunities. We are
excited to have the opportunity to qualify these two potentially oil bearing
pinnacle reefs on the same 640 acres as our Montney project."
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, Director
For further information:
For further information: please contact the Company at (604) 269-9801 or