Pemberton has finalized mineral lease continuations that relate to the Montney asset discussed in the Company's June 17th, 2009 news release. Pemberton's team has also identified two lucrative pinnacle reefs on these mineral rights and will be conducting an evaluation to determine if these pinnacle reefs are oil bearing. In addition, Pemberton will conduct evaluation on other anomalies that have been mapped out from our 3D seismic to determine their feasibility.
Management is also in negotiations for additional mineral rights acquisitions in the area with mineral rights from surface to basement that are contiguous to the current Montney two horizontal staged fracture well program.
President Richard Saxon stated, "The response to our June 17, 2009 news release regarding our Montney play that could yield $53,000,000 in probable net revenue over 14 years, has encouraged possible financing interest via flow through private placements and potential joint venture opportunities. We are excited to have the opportunity to qualify these two potentially oil bearing pinnacle reefs on the same 640 acres as our Montney project."
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