Change in Geology Yields Change in Drilling Strategy for Pemberton

Peace River Oil Sands
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Pemberton Energy Ltd. has received a report from Chapman Petroleum Engineering Ltd. which details final drilling recommendations on section 15-82-3W6M on the Company's Peace River Arch property.

The geophysical interpretation of the deeper Paleozoic interval has been refined on section 15-82-3W6M utilizing the 3D seismic program acquired by Pemberton Energy Ltd. last year as well as the seismic inversion of this data done by Hampson-Russell in Calgary. Two pronounced structural-stratigraphic features have been identified, one on the south half and the other on the north half of the section. It is recommended that initially the northern anomaly be drilled first to an approximate depth of 2400 meters to the Precambrian basement.

The proposed location would test a pronounced structural-stratigraphic anomaly with potential productive units in two formations, the Wabamun and Granite Wash. The proposed drilling of the southern anomaly should await a technical review of the results of drilling the northern anomaly.

Pemberton President Richard Saxon states, "This recent information from Chapman had the Company re evaluate its drilling strategy because we can potentially produce both oil and gas from multiple locations on the section 15 all the way down to the Granite Wash as opposed to the earlier strategy of just drilling for gas. We now have a deep location in the north of the section 15, and the south location is under investigation by geological and geophysical team. In addition, exploration and production for hydrocarbons from the Wabamun Formation in the Belloy- Tangent area on the Peace River Arch has been active since the early 1980s. Two hundred wells have been or are currently producing from this formation. These wells have cumulatively produced 21.2 million barrels of 35 degree API oil. Often thought to be well understood, the application of new data, technology, and ideas is revitalizing this play and leading to significant activity. Since 2002, Devon Canada has implemented a Wabamun drilling program on the PRA that is yielding considerable economic returns. This proposed well will test 6 oil zones down to the Precambrian basement as well as 2 gas zones, Notikewan and Gething. Testing these zones will create a future drill and production model and will allow the Company to study deeper oil plays and shallow gas bearing plays"


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