Primary Petroleum - Opportunity Is Our Vision And We See It!
TSX Symbol: PIE
05/17/2013 03:58PM (ET)
Last Trade: 0.075
Day High: 0.085
Day Low: 0.075
Net Change: -0.005
Volume: 478500


Primary Petroleum has concentrated the majority of its resources in the acquisition of prospective oil and gas acreage in Northwestern Montana. The Company has an operated working interest in a large contiguous land position, in excess of 370,000 gross, 310,000 net acres, in the Southern Alberta Basin in Pondera and Teton Counties of northwestern Montana.

Incorporating the knowledge acquired from a recently completed $41 million exploratory drilling program, Primary has gone on to identify a number of well supported exploration and development opportunities in formations ranging from the Cretaceous period to the Devonian period . Primary's land capture is offsetting the previously exploited Pondera Field which produced a total of 29MM barrels of oil.

All Primary's new play types encompass petroleum systems with carbonate and clastic targets. Favourable mineralogy and multiple pay intervals are some of the key characteristics demonstrated by the plays developed.

A combination of Company Exploration and successful analogues provides a basis for future exploration and development opportunities on the Primary Southern Alberta Basin Pondera Teton Prospect in Northwestern Montana.