You and me both - i thought the latest developments reported by the company were very positive . It appeared friday that more negative sentiment dominated the markets again on the TSX and the tsx-v, and this probably responsible for prompting a few players to dump some PBT and take some profits . It really wasnt big volume 157,000 shares traded - with CIBC and PI selling the bulk of those.

I suspect they arent willing to wait for flow tests and drilling of the second well to see if this is a huge cash cow or not.

For those who are patient I believe this one will work out wonderfully- especially if PBT does manage to find 2 zones of oil as they intimated on that last news release.

Pemberton Energy to begin drilling second well

 

2008-03-28 04:55 ET - News Release

Ms. Miroslava Antonuk reports

PEMBERTON TO START DRILLING ITS SECOND WELL

Pemberton Energy Ltd. will start a drill rig move to its 6-15-82-3 W6M (6-15) drill location on March 29, 2008, upon completion of production casing on its 10-15-82-3-W6M recently drilled well. The company's geological and geophysical advisers evaluated data received from the mud logs and drill stem tests on its first well, and based on this information and previously shot 2-D and 3-D seismic, recommended to increase the depth of the second drill location to include two potential oil-producing zones in addition to the previously proposed Gething and Notikewan potential gas zones.

The company is in the process of amending its drill licence received on Nov. 30, 2007, to increase estimated total depth from 1,047 metres to 1,144 metres. Pemberton has already completed lease construction, rathole and mousehole on 6-15 drill location.

For what its worth the financials and M,D & A are on Sedar as of Friday.