PPTL Premium Energy Corporation (CE)

Premium retains Schlumberger as its well logging company. Premium Petroleum, Inc. (PINK SHEETS:PPTL) is pleased to announce that it has secured a drill rig for the Boyne Lake gas prospect from Legend Drilling Ltd. of Red Deer, Alberta and the unit has been mobilized to the Boyne Lake Site. Drilling is expected to commence shortly on this gas prospect. It is anticipated to take several days to drill and complete the well. Schlumberger, an internationally recognized quality logging company, has been retained to provide the logging services for the well. Log and test results will follow shortly. Bruce A. Thomson, B.A.Sc.; President & CEO, states "due to the networking of our team of professionals, we have been fortunate to obtain a service rig commitment within a three week time frame. In these times of high rig demand, it is not uncommon for a company to wait sometimes months to obtain a service rig!". About Premium Petroleum, Inc. Premium is set to exploit petroleum and natural gas reserves in an environment of unprecedented commodity prices and under the guidance of a highly qualified management and technical team. Premium is an emerging junior oil and gas company financially well connected, coupled with a strong management and technical team focused on exploiting oil and gas reserves in the Western Canadian Sedimentary basin to 6000 feet in depth. Management intends to pursue a growth strategy through Land Assembly, Joint Ventures (Farmin / Farmout), and Acquisitions. The Company has assembled a seasoned team of managers and technical professionals in the areas of geology, engineering, and legal. With the depth of the management and technical team we have assembled, Premium is poised for aggressive asset growth and development. For more detail about the company, its management, and projects, please refer to our web site: www.premiumpetroleum.com. This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission. Premium Petroleum, Inc. (PINK SHEETS:PPTL)