CALGARY, March 28 /CNW/ - (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd.
wishes to announce that it has successfully completed its 3D-2007 Gage seismic
program. All 3D seismic records have been shipped to Calgary for processing.
Pemberton is currently interviewing geologists and geophysicists for
interpretation of the seismic data. Management feels that in order to pick
multiple targets in a timely manner geological and geophysical team is needed
on a full time basis for this project.
President Richard Saxon states: "With 3D seismic program successfully
completed and 2D in its final stage, Pemberton is in the best position to move
forward and to prioritize our drill targets. Management will announce its 3D
results upon receiving a report from its new geological and geophysical team.
Pemberton's management team was also happy to be recognized on the Business
News Network (www.bnn.ca) on March 27, 2007 and commended for its land
acquisitions in the Peace River Arch, AB. Full link to the broadcast on
Business News Network is
0049415-clip4/h/220asf/// and will be available on Pemberton's corporate
website www.pembertonenergy.ca soon."
Pemberton also wishes to announce that further to the news release of
February 28, 2007 it has now signed binding mineral land lease agreement on a
160 acre parcel to lease the subsurface mineral rights from basement to
surface in the Gage area of Peace River Arch. This parcel is contiguous to one
of the sections that Pemberton has a current land lease agreement on.
Pemberton has purchased 2D data on this quarter section that shows a shallow
gas target. This property was also included in the 3D-2007 Gage seismic
This land parcel 2D data has been reviewed in July of 2006 and
Pemberton's geological and geophysical team has strongly advised that
management pursue this acquisition. Outlined in the report the main zones of
hydrocarbon potential are the lower Cretaceous Notikewan, Falher and Gething
formations. These sandstones are at approximately 600m to 1200m in depth. The
Triassic sediments from approximately 1100m to 1400m depth (the Montney
carbonates and sands, the Charlie Lake carbonates and the Halfway sand) all
have hydrocarbon potential.
Pemberton Energy Ltd. will retain 75% beneficial interest over a term of
3 years. The Company will assume 100% of the drilling and completion costs of
the well, inclusive of all operating, processing, transportation and
production costs, crown royalties and any other costs associated with
development pertaining to the well.
Management will be adding live video of the 3D seismic program on its
corporate web site- www.pembertonenergy.ca under the Media Centre and a
helicopter view presentation of the size of the 3D completed seismic program.
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.
Ms. "Miroslava Antoniouk"
Miroslava (Antonuk) Antoniouk, Director
TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS
For further information:
For further information: please contact the Company at (604) 269-9801 or