CALGARY, Dec. 13 - - (TSX.V:PBT, FSE :P5W) Pemberton Energy Ltd. (Pemberton) wishes to announce that recent continuous evaluation of the 3-D seismic by the Company's geophysical and geological team within a radius of approximately 300 meters of the 6-15-82-3 W6M upcoming well, revealed 3 potential oil producing zones in addition to the Gething and Notikewan gas zones. The Company's geological and geophysical team recommends to increase the depth of the 6-15-82-3-W6M well to include drilling of 3 horizons in the Wabamun Zone with amplitude anomalies, as well amplitude anomalies in the Granite Wash and the Precambrian. This will give Pemberton an opportunity to have a multi zone producing well, with three potential oil zones and two potential gas zones making a total of 5 potential producing zones.
The uppermost potential zone, the Lower Cardinal member, forms small structural trap, whereas the other zones are stratigraphic in nature. The optimum bottom hole location is 133 meters north of the 6-15 surface location, a very small deviation from vertical. This well will be a first of several locations within section 15 and information gathered from this well will be used to calibrate the seismic signature and assist in the optimizing of future locations.
These findings have delayed the drilling of the 6-15-82-3 well in order to include the oil zones in the drill program. The Company is in the process of changing its drill license from a gas well with 1047 m depth to oil and gas well with a total depth of 2400 m.
Richard Saxon, President states: "Adding these three potential oil bearing zones to our drill program changes the dynamics of the Company's success taking Pemberton to a new level. These Devonian and older porous sandstones have the potential for significant hydrocarbon reserves and lie at a depth of approximately 2400 m. As a result of the Company's 3D seismic and inversion analysis completed by Hampson Russell and the activity of numerous major oil and gas companies in the Peace River Arch management is eager to drill 6-15-82-3W6M well which will now include three additional oil zones";.
Pemberton wishes to advise that it has released Phelps rig No. 9 due to the fact that it is a single drill rig and Pemberton's new target depth is 2400 m that requires a double to achieve its goal. Pemberton is in a receipt of two drill bids from other drill companies that are capable of drilling to the contact depth of 2400 m. Drill date will be announced on receipt of amended drill license from the EUB.
Pemberton Energy's Ltd. principal business is the acquisition, exploration and development of petroleum properties. The company continues to focus on its primary corporate objective: the creation of value for shareholders by identifying oil and gas accumulations with relatively low geological risk but with substantial reserve potential.
On behalf of Board of Directors
"Miroslava Antonuk"
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Ms. Miroslava Antonuk Director
TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS
HEREIN
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