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NEWS RELEASE Pemberton set to receive additional test results on two new oil zones of interest October 10, 2007 Calgary, Alberta, (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd. (Pemberton) wishes to announce that it has been advised by Hampson-Russell Limited Partnership of Calgary that in addition to the AVO (Amplitude Versus Offset) results, Pemberton will receive its inversion test results on two new oil zones of interest, at the upcoming presentation to the Company's board of directors, within the next 6 business days. Pemberton's geological and geophysical team advised conducting an inversion test in order to identify reservoir potential more accurately and to minimize risk. The Company will provide a market update upon receipt of the AVO test and inversion test results. Management is excited with a possibility of increasing the Company's oil production by having oil targets on its Peace River Arch property, at a time that oil prices have been hovering around $80 per barrel in recent weeks, after hitting an all-time high in New York and London. Director Mr. Jerry Hale states: "Management feels that Pemberton's future looks very bright with a possibility of drilling multiple wells, both oil and gas, on its Peace River Arch property, while adding to shareholder value." Pemberton Energy's Ltd. 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 Pemberton Energy Ltd. “Miroslava Antonuk”
TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS HEREIN |
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