Primary Petroleum Updates Land Holdings and 3D Seismic Program in Southern Alberta Basin Bakken Fairway in NW Montana
11 June 2011 - 12:00AM
Marketwired
Primary Petroleum Corporation (TSX VENTURE: PIE)(OTCQX: PETEF)
("Primary" or the "Company") is pleased to provide the following
update:
290,000 net acres in the Southern Alberta Basin ("SAB") Bakken
Fairway in NW Montana
With the recent Montana state land sale (June 7th ) in Teton
County, along with our continued Land Acquisition Strategy, Primary
is pleased to report that its current land holdings in Pondera and
Teton Counties exceed 290,000 net acres under lease and option. Our
lease locations within the currently defined SAB Bakken Fairway
commence on the southern border of the Blackfeet Indian Reservation
where several majors and other Industry participants hold
substantial acreage positions and have been drilling and de-risking
the NW Montana portion of the SAB Bakken Fairway. To date, early
indications from previous drilling have identified early production
rates in line with expectations in the Del Bonita area along the
Montana / Alberta border of the SAB. On the NW Montana portion of
the SAB, production has been confirmed but not quantified. Current
drilling activity in the area is located less than 10 miles from
our northern land holdings.
3D Seismic and Vertical Drilling Program
Primary has outlined four key areas on our acreage block that it
intends on shooting 3D Seismic over to better identify and evaluate
the hydro carbon formations of the Sunburst; Madison; Lodgepole;
Bakken; Three Forks and Nisku. To date the Company has collected
data that confirms the presence of these formations over our
acreage and that they are oil bearing. We are close to completing
the permitting phase on both our NE Marias River and NW Dupuyer
Creek programs and anticipate surveying to commence later this
month. As these programs near completion this summer, our crews
will then move to our SW Deep Creek and Central Eureka Lake seismic
programs. Our calendar 2011 program is to complete the 3D Seismic
and commence our vertical drilling program in Q3 to log, core and
test the Lodgepole; Bakken and Three Forks formations prior to
yearend.
Enercom's London Oil & Gas Conference - June 16, 2011 -
London England
Primary will be presenting at 2011 London Oil & Gas
Conference hosted by Enercom Inc. To learn more about the
conference please visit www.enercomlogc.com. The presentation will
be webcast live at 11:30am BST or 6:30am EDT. Access to the webcast
will be made available through our website or by clicking on the
following link:
http://www.vcall.com/CustomEvent/conferences/enercom/20110616/webcast.html.
About Primary Petroleum Corporation - Primary 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 Prsident
& CEO (403) 262-3132 mike@primarypetroleum.com
www.primarypetroleum.com
Keek, Inc. (TSXV:PIE)
Historical Stock Chart
From May 2024 to Jun 2024
Keek, Inc. (TSXV:PIE)
Historical Stock Chart
From Jun 2023 to Jun 2024