CALGARY, May 4 /CNW/ - (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd. (Pemberton) is pleased to announce the following corporate update on its upcoming drill program on its Viking Asset in Kindersley, SK.
Pemberton's geophysicist has identified a potential second horizontal drill target on this land which will allow the Company to drill a second well in accordance with spacing unit regulations. Management will be presenting this additional drill location to its current Joint Venture ("JV") partners and will be looking for additional JV partners if necessary.
Pemberton has received consent to survey from the surface landowner and has hired a local survey company to begin surveying both drill locations next week.
Pemberton has funds available and allocated for The Saskatchewan Oil and Gas Orphan Fund deposit in the amount of $10,000.00 which is mandatory and the money for licensing application. Pemberton is in the process of obtaining necessary insurance for this project. Management is in the process of adding this additional well to the licensing package.
On behalf of Board of Directors
Ms. Miroslava Antonuk, Director
TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN
SOURCE PEMBERTON ENERGY LTD.
For further information: For further information: PEMBERTON ENERGY LTD., 328, 1500 14th Street SW, Calgary, AB, T3C 1C9, PHONE: (403) 269-8424, FAX: (403) 269-8477