🕐02.10.09 - 20:15 Uhr
PRIMARY PETROLEUM ENGAGES SAYER ENERGY ADVISORS
NEWS RELEASE
Trading Symbol: Canada: TSX-V: PIE
PK: PETEF PRIMARY PETROLEUM ENGAGES SAYER ENERGY ADVISORS October 02,
2009 Calgary, Alberta Primary Petroleum Corporation (TSX-V: PIE, PK:
PETEF) (Primary or the Company) announces that it has retained Sayer
Energy Advisors (Sayer) to act as financial advisor and agent with
respect to securing a joint venture partner or partners to assist in the
exploitation (the Transaction) of Primarys Pondera-Teton and Saturn
Projects in Montana.
The term of this engagement is until January 31,
2010.
The Pondera-Teton prospect area includes approximately 122,783 net
acres (192 sections) in western Montana.
These lands are prospective for
oil in the Mississippian Madison Formation and for oil and/or gas in the
lower Cretaceous Sunburst Formation.
Primary has acquired over 200 miles
of 2D seismic and 25 square miles of proprietary 3D seismic.
In 2008
Primary drilled and cased four wells.
To date, the Company has
identified up to twelve drilling locations.
The Saturn prospect is
located in northeastern Montana along the western margin of the
Williston basin in Daniels County and includes approximately 22,240 net
acres [35 sections].The prospect offsets the Cabaret Coulee field, which
has produced in excess of 450,000 bbls of oil from the Mississippian
McGowan and Mission Canyon Formations.
Approximately 53 miles of 2D
seismic data has been acquired and a number of prospective Mississippian
structures have been identified.
About Primary Petroleum Corporation:
Primary is a junior oil and gas company engaged in exploration and
development activities in Montana and Alberta with its head office
located in Calgary.
The Companys mandate is to continue to exploit oil
& gas prospects of merit in the Sedimentary Basin of the Western
United States and Canada.
To find out more about Primary Petroleum visit
our website at www.primarypetroleum.com For further information please
contact: PRIMARY PETROLEUM CORPORATION
Mike Marrandino, President & CEO
403-262-3132
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.
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