Primary Updates Alberta Basin Bakken Project

Primary Petroleum Corporation has seen increased activity in the Alberta Basin Bakken Fairway in Western Montana, where the company currently holds approximately 110,000 gross/net acres (171 sections).

To date, the Montana Board of Oil and Gas has recorded 16 wells that have either been permitted, spud and/or drilled in the area by Rosetta Resources, Newfield Exploration or Anschutz Oil and Gas. The closest wells to Primary's land are approximately 12 miles to the north and west. Primary's geological and geophysical evaluation confirms that the Lodgepole, Bakken, Three Forks and Nisku formations extend over its land holdings. Primary has had significant interest in its Montana prospects and the Company has commenced presentations to potential industry partners.

Long Coulee Acquisition in Southern Alberta
Primary Petroleum is pleased to announce that, subsequent to its News Release of November 10, 2009, Primary [W.I. 45%] and its joint venture partner have completed the acquisition of a 256 hectare (640 acre) oil prospect at Long Coulee in Southern Alberta. This area is prospective for light oil in the lower Mannville Sunburst Formation and offsets the Long Coulee Sunburst "I" Pool, which has produced over 1.2 million barrels of oil to date. Up to five locations have been identified on 3D seismic which was shot in December 2009. Primary anticipates that this prospect will be drilled in or around Q4 2010.

 

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