PREMIUM PETROLEM, INC.
Symb0l: PPTL . PK
Currently trading from 1.5 - 2 cents
3 Day Target_Price: $0.3
Watch this one ALL WEEK!!
If there are images in this attachment, they will not be displayed. Download the original attachment
Premium Petroleum, Inc. retains Seismic Contractor. Survey Crew mobilized on Boyne Lake project.
Company expects to report seismic results in the first part of January 2006.
Thursday December15, 2005; 10:00 am ET
CALGARY, Alberta-- (BUSINESS WIRE).December 15, 2005--Premium Petroleum Inc. (PINK SHEETS: PPTL - News) announces that it has engaged the well respected contracting firm of Boyd Exploration Consultants Ltd to conduct the shooting of its recently designed seismic program. Premium Petroleum Inc. is also pleased to announce that surveying crews have been mobilized.
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. Seismic data results from Boyne Lake prospect to be interpreted and announced by first week of January 2006.
Bruce Thomson, 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 we have assembled, Premium is poised for aggressive asset growth and development..
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