PEMBERTON ENERGY LTD.Transmitted by CNW Group on : June 17, 2008 17:22Pemberton goes "tight hole" status and continues to negotiate mineral rights
CALGARY, June 17 /CNW/ - (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd. is
pleased to announce that management is in negotiations of securing mineral
land leases that are contiguous to our recently drilled targets and management
has voted that wells 10-15-82-3 W6M and 6-15-82-3 W6M on a "tight hole"
status. This "tight hole" status will be imposed by management until mineral
leases have been secured. "Tight hole" is a petroleum industry term used
colloquially in which the performance data of a well is closely guarded.
During this period, all information about the wells - depth, formations,
drilling rates, logs and other pertinent data - is not shared or made public.
Additional drilling on section 15 is anticipated during our summer drill
program. Further information regarding summer drill program will be announced
upon lifting the "tight hole" status.
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 email@example.com
On Behalf of Pemberton Energy Ltd.
Ms. "Miroslava Antonuk"
Miroslava Antonuk, Director
TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS