Park Place & Partners Spud Morgan Highpoint # 4 Well in Tennessee



Park Place Energy Corp. announced that Montello Resources Ltd., as the Operator, after obtaining the required regulatory approvals with respect to the licensing of the Morgan Highpoint # 4 Test Well, spud the well on March 10, 2008. The participating interests in this new well are as follows: Park Place is paying 5% of the costs to earn a 5% interest, Montello is paying 15% of the costs to earn a 35% interest, Austin Developments Corp. is paying 20% of the costs to earn a 30% interest and Blackrock Petroleum Corp. is paying 60% of the costs to earn a 30% interest.

The Morgan Highpoint # 4 Test Well, located in Morgan County, Tennessee is strategically located approximately half a mile south of the suspended Morgan Highpoint # 3 Test Well, which as a precautionary measure, after encountering hydrocarbons, was secured and suspended until additional safety and under balanced equipment could be brought in to safely carry on operations.


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