NEWS RELEASE

AMENDMENT OF WARRANT TERMS

January 27, 2009 Calgary, Alberta, (TSX.V:PBT, FSE :P5W Pemberton Energy Ltd. (the “Company”) wishes to announce that it has applied to the TSX Venture Exchange (the “Exchange”) to amend the terms of the 3,000,000 non-flow through warrants and 3,960,000 flow-through warrants issued on March 26, 2008 (the “Warrants”).

Subject to Exchange approval, the term and exercise price of the Warrants will change from:

“One Warrant and $0.35 in the first year is required to purchase each share if purchased on or before the 1st anniversary of the date of issuance of the Warrant.” to “One Warrant and $0.135 are required to purchase one common share if purchased on or before the 2nd anniversary of the date of issuance of the Warrant, subject to the following acceleration provision: if the closing trading price for the common shares as traded on the TSX Venture Exchange, as the case may be, equals or exceeds CDN$0.135 per common share for 10 consecutive trading days (collectively, the “Premium Trading Period”), then the exercise period shall be reduced to 30 calendar days beginning after the 7th calendar following  the Premium Trading Period.”

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.

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

On behalf of Board of Directors

“Richard Saxon”
__________________________
Richard Saxon, Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.