Primary Petroleum Successful at Montana State Land Sale, Increases Land Holdings to Over 242,000 Net Acres (380 Sections) in Sou
04 March 2011 - 2:00AM
Marketwired
Primary Petroleum Corporation (TSX VENTURE: PIE)(PINK SHEETS:
PETEF) ("Primary" or the "Company") is pleased to announce that it
was successful at the March 1st, 2011 Western Montana State Land
Sale Auction where it acquired 31,286 net acres (49 sections) out
of the 45,000 net acres available for auction at the largest
Western Montana State Land Sale Auction todate. The acquired state
leases along with Primary's ongoing Land Acquisition Strategy has
enabled the Company to accumulate over 242,000 long term net acres
(380 sections) in the Southern Alberta Basin Bakken Fairway of
Western Montana.
"We are very pleased with the results of the Montana State Land
Sale, as the acquisition of these long term leases enables Primary
to fill in the some of the gaps in its contiguous lease holdings in
order to move forward with our 3D seismic and drilling program."
states Mike Marrandino, President and CEO. "As the largest
contiguous lease holder south of the Blackfeet Indian Reservation
in Western Montana, Primary is well positioned to exploit its
current land holdings through the implementation of a 3D seismic,
multi-well vertical and horizontal drilling program that it intends
to execute through the balance of 2011. Primary Petroleum will
continue its ongoing discussions with potential Industry Partners
that have expressed an interest in a Joint Venture opportunity with
it's Western Montana Bakken Fairway prospect.
About Primary Petroleum Corporation - Primary Petroleum is a
junior oil and gas company engaged in exploration and development
activities in Montana and Alberta and currently holds substantial
land positions in two unconventional tight oil plays in North
America; the Saturn Prospect in the Williston Basin and the
Pondera-Teton Prospect in the Southern Alberta Basin. The Company's
mandate is to continue to acquire strategic land positions of merit
in the Sedimentary Basin of the Western United States and Canada
and seek out qualified industry partners to exploit and develop
them. To learn more about us, please visit our website at:
www.primarypetroleum.com
FORWARD LOOKING STATEMENTS DISCLAIMER: Certain statements in
this document may contain "forward-looking statements" or
"forward-looking information" within the meaning of applicable
securities legislation. Such forward-looking statements or
information include, without limitation, forecasts, estimates,
expectations and objectives for future operations that are subject
to a number of assumptions, risks and uncertainties, many of which
are beyond the control of the Company. The Company does not assume
the obligation to update any forward-looking statement, except as
required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Primary Petroleum Corporation Mike Marrandino
President & CEO (403) 262-3132 mike@primarypetroleum.com
www.primarypetroleum.com Brisco Capital Partners Scott Koyich
President (403) 262-9888 scott@briscocapital.com Brisco Capital
Partners Gordon Aldcorn (403) 618-6507 gordon@briscocapital.com
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