 |
 |
NEWS RELEASE Pemberton signs second binding Petroleum and Natural Gas lease in the Peace River Arch Area. Pemberton Energy Ltd. wishes to announce that it has signed first of three mineral rights acquisition deals that are in currently under negotiations. Pemberton signed a two year binding Petroleum and Natural Gas Lease and Grant Agreement to lease the subsurface mineral rights from basement to surface on an undivided 50% interest in 507 acre parcel in the Peace River Arch Area. Pemberton Energy Ltd. will retain 75% beneficial interest and will assume 100% of the drilling and completion costs of the well, inclusive of all operating, processing, transportation and production costs. This land agreement is subject to TSX approval. President Richard Saxon states: Management is extremely pleased with its latest land acquisition that is contiguous to the recently drilled wells and continues negotiations on the additional two parcels. Pemberton will remain in “Tight Hole “status until these negotiations are complete and should be unveiling the drill program once the " Tight Hole " status is removed in the near future”. 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. On Behalf of Pemberton Energy Ltd. "Miroslava Antonuk" For additional information please contact the Company at 604-269-9801 or info@pembertonenergy.ca
TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS HEREIN
|
|
 |
|