Pemberton signs two binding land lease agreements.

February 27, 2007 Calgary, Alberta, (TSX.V:PBT, FSE :P5W)  Pemberton Energy Ltd (“Pemberton”)  is pleased to announce that further to the news release of January 25, 2007 it  has now signed two binding Petroleum and Natural Gas Land Lease Agreements on the lease of subsurface mineral rights in the Montney Zone, a depth of 1095 to 1313 meters, totaling 100% undivided interest on a 160 acre parcel in the Gage area of Peace River Arch holdings. This quarter section has been added to the Company’s upcoming 3D program.

Tusk Energy Corporation (TSX: TSK)  is the immediate neighbor, on the NW quarter of the section, of which Pemberton signed 2 binding land lease agreements for the NE quarter section,  and according to a recent Tusk Presentation http://www.tusk-energy.com/slideshow2/?next=20 have calculated reserves on the Gage Montney formation at estimated  2,500,000 million barrels of oil-in-place. Tusk is currently infill drilling the location and looking to increase production on their property.

Pemberton Energy Ltd. will retain 75% beneficial interest over a term of 2 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.  

Pemberton will provide a corporate update by the end of this week upon completing its final surface access negotiations on its upcoming 3D seismic program.

Pemberton Energy’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.

For further information on Pemberton Energy Ltd. please contact 604-269-9801.

On Behalf of Pemberton Energy Ltd.

“Miroslava Antoniouk”
___________________________
Ms. Miroslava Antoniouk, Director

For additional information please contact the Company at 604-269-9801 or info@pembertonenergy.ca
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