CALGARY, ALBERTA — (Marketwire) — 05/29/12 — Primary Petroleum Corporation (TSX VENTURE: PIE)(OTCQX: PETEF) (“Primary” or the “Company”) is pleased to provide the following technical update on its Pondera-Teton Prospect located in the Southern Alberta Basin Bakken Fairway in NW Montana.
Seismic Program
Initial six vertical stratigraphic wells:
Three supplemental vertical wells:
Operatorship
Primary has requested and has been granted by its JV Partner continued Operatorship for the balance of the drilling and completion operations in the Phase I program.
Horizontal Program
About Primary Petroleum Corporation
Primary is a junior oil and gas company engaged in exploration and development activities in NW Montana and currently holds substantial land positions in both an unconventional and conventional resource oil play. The Company–s mandate is to continue to acquire strategic opportunities in the Sedimentary Basins of the Western United States and Canada and seek out qualified industry partners to assist in the exploitation and development. To learn more about us, please visit our website at: .
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
(403) 262-3175 (FAX)