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NEWS RELEASE Pemberton revises debt settlement for shares. October 28, 2008 Calgary, Alberta, (TSX.V: PBT, FSE :P5W) Pemberton Energy Ltd. wishes to announce that it has increased the amount and changed the price of its previously announced on September 26, 2008 debt settlement for shares. Under the revised terms of the debt settlement the Company will settle up to $1,600,000.00 at $0.05 per share. This debt relates to cost overrun incurred in the drilling of 2 wells on the Company’s Peace River Arch property. Management and consultants have been granted an option by the majority of the creditors to purchase back the shares at an undiscounted rate. The Company shall seek pooling arrangements in regard of such shares. This debt settlement is subject to TSX Venture Exchange approval. 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 Pemberton Energy Ltd. Ms. “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
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