Premium Petroleum Initiates Seismic Program on its Boyne Lake Gas Prospect
Premium Petroleum has initiated its Seismic program on its Boyne Lake Gas Project in Canada. Due to the channel sand nature of the geology at the site, management has decided to shoot a seismic program to assist in identifying the optimum drill location on the subject lands. To this end, a highly respected geophysical firm of Petrel Robertson Consulting Ltd. has been retained to design, oversee, and interpret a 3-line 8 km seismic program. This program should be completed and interpreted within the next 30 to 60 days, subject to equipment availability.
"The power of seismic is that it raises the probability of success," commented Bruce Thomson, President and Chief Executive Officer of Premium Petroleum, Inc. "In this case from an estimated 35% to an over 70%," concluded Thomson.
Premium is set to exploit petroleum and natural gas reserves in an environment of unprecedented commodity prices and under the guidance of a highly qualified management and technical team.
Premium is an emerging junior oil and gas company financially
well connected, coupled with a strong management and technical team
focused on exploiting oil and gas reserves in the Western Canadian
Sedimentary basin to 6000 feet in depth. Management intends to pursue
a growth strategy through Land Assembly, Joint Ventures
(Farmin/Farmout), and Acquisitions. The Company has assembled a
seasoned team of managers and technical professionals in the areas of
geology, engineering, and legal (Petroleum Landman). With the depth
of the management and technical team we have assembled, Premium is
poised for aggressive asset growth and development.
- Premium Petroleum Seeks Up to $5MM to Finance Projects (Oct 30)
- Premium Seeks Up to $5 Million in Financing (Feb 11)
- Premium Adds 3 Lines of Seismic Data on its Boyne Lake Discovery (Oct 22)