Premium Petroleum, Inc. Completes Seismic Shoot-Data Being Processed on Boyne Lake Project
February 07 2006 - 9:17AM
Business Wire
Company expects to report Seismic interpretation results within a
few days. Premium Petroleum Inc. (PINK SHEETS:PPTL) has engaged the
well respected contracting firm of Boyd Exploration Consultants Ltd
to conduct the shooting of its recently designed seismic program
and is pleased to announce that the shoot has been completed and
the data is now being processed. Interpretation results will be
available within a few days. The seismic program is comprised of
three seismic lines for a total of 8.6 km. The lines will tie in
the neighbor's successfully tested well (3.4 mmcf/day AOF -
absolute open flow) three quarters of a mile NW of our property and
in addition will also incorporate parts of two neighboring sections
along with the Company owned section. The objective of the seismic
program is to create a picture of the geologic structure, which
will assist in determining the optimum drill location. Bruce A.
Thomson, B.A.Sc.; President & CEO, states "the power of seismic
is that it raises the probability of success - in this case from an
estimated 35% to an estimated 70% plus". 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 PPTL has assembled, PPTL 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)
Premium Energy (CE) (USOTC:PPTL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Premium Energy (CE) (USOTC:PPTL)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Premium Energy Corporation (CE) (OTCMarkets): 0 recent articles
More Premium Petroleum, Inc. News Articles