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Premium is an emerging junior oil and gas company financially well connected, coupled with a strong management and technical team dedicated to creating shareholder value by focusing on exploiting oil and gas reserves in the Western Canadian Sedimentary basin to 2,000 meters in depth. The growth strategy includes: grass roots land assembly, acquisitions, joint venture participations (Farmin/Farmout), and corporate acquisitions.
Management
will pursue the following growth strategies: Management believes that the wholesale way to participate in the oil and gas industry is to purchase land on the basis of sound geological fundamentals, of which the primary criteria is offsetting existing production. Farmin / Farmout: A Farmin is when the company participates in someone else’s project, and a Farmout is when someone else participates in the company’s project. Both strategies will be utilized depending on the timing, risk factor, initial financial commitment, and potential size of a given project. Acquisition: The company will seek opportunities to grow by acquisition. Both land acquisitions as well as production acquisitions with upside drilling potential will be sought, however, given the current high commodity prices, it requires patience to find an acquisition that has existing production, upside potential, and is realistically priced.
Boyne Lake Prospect:
The company has purchased the petroleum and natural gas rights to a section (640 acres) of land 100 km north east of Edmonton Alberta, Canada. A well was recently drilled three quarters of a mile north west of the property was absolute open flow tested (AOF) at 3.4 mmcf per day. An engineering report and a geology report were commissioned on Boyne Lake. Based on well logs available from this recently tested well, an abandoned well on the property drilled in 1987, and also other well logs available in the area, our engineer has assigned a value of probable plus possible reserves at a 10% net present value discount equal to $5,000,000 per well. With a dry hole cost of approximately $180,000 per well this results in an exceptional risk reward ratio of greater than 25:1 at current commodity prices. Because of the shallow depth of the two potential target zones (2100 feet approximately), it is possible to apply to drill 4 wells per section. Once the first well is drilled and tested, the company will likely pursue the purchase of an additional two sections of adjacent lands. The company plans to drill the first well on this prospect within 90 days, subject to rig availability. In the interest of diversifying risk, the company’s strategy is to Farmout up to a 50% working interest (after payout) to third parties. Whitemud Gas Prospect: Management Bruce A. Thomson, B.A.Sc. President, CEO, Director - Over 30 years of entrepreneurial business experience in private and public companies, with expertise in management, marketing, and finance.
Paul J. Bennett, H.B.SC., M.Sc., P. Geol Vice President Exploration Advisory Board Member - A seasoned senior oil and gas manager and an accomplished explorationist with many significant discoveries to his credit. E. P. (Ted) Webb, P.Eng. Vice President Engineering Advisory Board Member - Over 40 years of domestic and international engineering experience in the oil patch, including 33 years of consulting to private and public companies. Tom Walton, B.Com., Professional Landman, Advisory Board - Over 31 years experience, over 50 clients, negotiated over $4 billion in acquisitions and mergers. Doug McClennan, Advisory Board - A seasoned expert in the well service industry, Doug brings a wealth of expertise in well completions and well servicing, as well as an extensive network of industry contacts. Investor Info US OTC Trading
Symbol, Pink Sheet – “PPTL” Premium Petroleum
Inc. Voice: 403-264-2710 Bruce A. Thomson, B.A.Sc.
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