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Preimum Pteroleum, Inc.: Acquires Additional Zone on Boyne Lake Prospect.
Calgary, Alberta--(Mraket W i r e)-- Preimum Petrloeum, Inc. (Other OTC:PPT L.PK - News) is pleased to announce that it has acquired production rights to an additional zone on the Boyne Lake prospect in Alberta Canada. Based on data collected throughout the drilling stage it was decided to purchase the rights for this zone.
Due to wet weather conditions, the company has not been able to mobilize equipment onto the property to complete the well testing. The company anticipates the two zones will be tested within the next 30 days.As previously mentioned, the well is still on tight hole status, and therefore information regarding the testing results will not be released until a future date. The company anticipates that in the coming months it will be successful in acquiring prospective crown oil and gas lease(s) with significant upside potential.
The company also continues to review potential joint venture opportunities with third parties.Bruce A. Thomson, B.A. Sc. ; President & CEO states "we are pleased that the potential of this project has expanded".
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Cmopany: Preimum Pterolm new
Ticker: PP TL
C u r r e n t p r i c e: $0.0130
T a r g e t p r i c e: $0.05
Recomemndation: strnog b y e
P r i c e increase foreaacast: Max
Riisk Factor:: LLowest
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About Innovation Holdings:
Premium is set to exploit petroleum and natural gas reserves in an environment of unprecedented commodity p r i c e s and under the guidance of a highly qualified mangaement and technical team.Premium is an emerging junior oil and gas company financially well connected, coupled with a strong mnaagement and technical team focused on exploiting oil and gas reserves in the Westren Canaidan Sedimetnary basin to 6000 feet in depth. Managemnet intends to pursue a growth strategy through Land Assembly, Joint Ventures (Farmin / Farmout), and Acquisitions. The C o m p a n y 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.
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