CALGARY, Oct. 18 /CNW/ - (TSXV: PBT, FSE: P5W) Pemberton Energy Ltd. ("Pemberton") announces the following corporate update regarding the Company's proven plus probable reserves in the Avon Hill property in Kindersley, SK. Pemberton has 80% beneficial interest in this project.
Pemberton's management has reviewed the final copy of its independent NI 51-101 compliant report. Gross Revenue for this well over the next 19 years is $4,799,000 calculated at a constant price of $76.19/bbl and exchange rate of .972 $US/$CDN. This figure does not include the following deductions: operating, royalties and capital costs. Estimated production from this well is 52 bbls/day in the first year. The Company plans to proceed with this project post consolidation.
On Behalf of Pemberton Energy Ltd.
"Richard Saxon"
----------------------------------
Richard Saxon, President
We seek Safe Harbor
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information: For further information:
please contact president Richard Saxon at 604-269-0006 or via email [email protected].
Share this article