CALGARY, Jan. 10 /CNW/ - (TSXV: PBT, FSE: P5W) Pemberton Energy Ltd.
(Pemberton) is pleased to announce that it has received a report from Chapman
Petroleum Engineering Ltd. which details final drilling recommendations on
section 15-82-3W6M on the Company's Peace River Arch property.
The geophysical interpretation of the deeper Paleozoic interval has been
refined on section 15-82-3W6M utilizing the 3D seismic program acquired by
Pemberton Energy Ltd. last year as well as the seismic inversion of this data
done by Hampson-Russell in Calgary. Two pronounced structural-stratigraphic
features have been identified, one on the south half and the other on the
north half of the section. It is recommended that initially the northern
anomaly be drilled first to an approximate depth of 2400 meters to the
Precambrian basement at the following location:
The proposed location would test a pronounced structural-stratigraphic
anomaly with potential productive units in two formations, the Wabamun and
Granite Wash. The proposed drilling of the southern anomaly should await a
technical review of the results of drilling the northern anomaly.
GEOLOGY AND GEOPHYSICS
The Granite Wash Formation is the basal unit of the sedimentary section
in this area and is a clastic formation formed by the reworking of basement
debris as the Devonian sea transgressed onto the Peace River Arch. The
formation can range in thickness from ten to fifty meters of interbedded shale
and arkosic sandstones. The sandy interval can range from four to twenty
meters in thickness while pay zones in the Granite Wash Formation are always
oil-bearing with net pay typically two to five meters. The proposed location
at 10-15 has mapped a one-well four-way structural closure at the Granite Wash
level adjoining a normal fault immediately to the north. This feature is a
potential reservoir trap which would be sealed by the impermeable carbonate
deposits of the Winterburn Group.
The normal fault extends up through the entire Devonian section and also
contributes to a one-well four-way structural closure at the Wabamun level,
the second target zone at the proposed location. The Wabamun Formation is the
uppermost Devonian unit in the area and is a widespread carbonate shallow
shelf deposit approximately 175 meters in thickness with the top of the
formation at an approximate depth of 2100 meters. The formation is subdivided
into four members which starting from the base are the Dixonville, Whitelaw,
Normandville and Cardinal Lake members. The two upper members are productive
when dolomitized and sealed by surrounding impermeable limestone.
Dolomitization can occur when fluids migrate along fractures associated with
normal faults such as the one immediately to the north of the proposed
location. This has occurred at the Eaglesham and Tangent oil fields
approximately three townships to the south. However, there is just as likely
that gas would have been trapped in any potential reservoir in the Fairview
area as there are Wabamun gas fields three townships to the west in the George
and Royce fields.
The recognition a one well four-way structural closure at the Granite
Wash and Wabamun levels on high quality 3D seismic that gives new information
due to high quality data has resulted in a dual target location and it is
recommended that this location at 10-15-82-3W6M be licensed and drilled this
Pemberton President Richard Saxon states, "This recent information from
Chapman had the Company re evaluate its drilling strategy because we can
potentially produce both oil and gas from multiple locations on the section 15
all the way down to the Granite Wash as opposed to the earlier strategy of
just drilling for gas. We now have a deep location in the north of the
section 15, and the south location is under investigation by geological and
geophysical team. In addition, exploration and production for hydrocarbons
from the Wabamun Formation in the Belloy- Tangent area on the Peace River Arch
has been active since the early 1980s. Two hundred wells have been or are
currently producing from this formation. These wells have cumulatively
produced 21.2 million barrels of 35 degree API oil. Often thought to be well
understood, the application of new data, technology, and ideas is revitalizing
this play and leading to significant activity. Since 2002, Devon Canada has
implemented a Wabamun drilling program on the PRA that is yielding
considerable economic returns. This proposed well will test 6 oil zones down
to the Precambrian basement as well as 2 gas zones, Notikewan and Gething.
Testing these zones will create a future drill and production model and will
allow the Company to study deeper oil plays and shallow gas bearing plays"
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