PTT Primera Energy Resources Ltd.

Primera Energy Resources Ltd. ("PERL" or the "Corporation") (TSX VENTURE:PTT) is
pleased to provide the following corporate update.


Moruga Exploration Update

Further to our previous press release announcing the Snowcap 1 well as "the
first Trinidad onshore light oil discovery in 50 years, the Corporation in
conjunction with the Operator shall commence long-term production testing from
the Snowcap-1 well, subject to regulatory and partner approvals. The goal of the
test is to determine sustained production rates and reservoir characteristics
from prospective horizons encountered during drilling and which were previously
tested. The shipping of oil, if any, from Snowcap-1 will be to an independent
third party facility from where it will be treated and shipped to Petrotrin (the
State owned Petroleum company). The trucking distance will be less than 30
kilometres. The Corporation will obtain WTI pricing for these sales volumes,
less a discount to account for oil gravity, handling, processing and shipping.
Gas produced during the test, if any, will be flared in accordance with the
Ministry of Energy and Energy Affairs' regulations. The Corporation, in
conjunction with the Operator, Parex Resources Inc., now expects to complete and
test the Firecrown-1ST2 and Green Hermit-1 wells during the third quarter of
2012. 


PERL's working and paying interest for the Moruga Block is 16.2%.

About PERL

PERL is a TSX Venture Exchange listed issuer which currently produces an average
monthly rate of approximately 500 bopd pursuant to a lease operatorship
agreement in South Central Trinidad and has a 16.2% working interest in the Cory
Moruga 'E' Block. 


READER ADVISORY

Statements in this press release may contain forward-looking information
including expectations of future operations, the testing of Snowcap - 1,
operating costs, commodity prices, administrative costs, commodity price risk
management activity, acquisitions and dispositions, capital spending, access to
credit facilities, income and oil taxes, regulatory changes, and other
components of cash flow and earnings. The reader is cautioned that assumptions
used in the preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the issuer. These risks
include, but are not limited to, the risks associated with the oil and gas
industry, commodity prices and exchange rate changes. Industry related risks
could include, but are not limited to, operational risks in development and
production, delays or changes in plans, risks associated to the uncertainty of
reserve estimates, or reservoir performance, health and safety risks and the
uncertainty of estimates and projections of production, costs and expenses. The
reader is cautioned not to place undue reliance on this forward-looking
information.

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