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Gold/Mining/Energy : Pemberton Energy (V.PBT)

PBT 18.43

+2.0%

Oct 30 5:00 PM EST

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To: Sieg who wrote (28)	6/7/1999 8:08:00 PM
From: David Parkinson	of 38

Does this sound good to anybody??? CPT PEMBERTON TECHNOLOGIES LTD. #211- 470 Granville Street Vancouver, BC V6C 1V5 Telephone: (604) 669-7772 Fax: (604) 669-7701 Website: www.pemb.com NEWS RELEASE June 7, 1999 PBT The Company is pleased to announce that we have received information from our general contractor (Crest Energy Consultants Inc.) that well 14-28-12-15 has been completed. The well was perforated in the Sawtooth formation. It flowed medium gravity crude oil (34 API) and formation water to surface with an initial oil cut of 66%. The well was then swab produced to temporary on site tanks with a service rig for a period of three days at varied rates. We swabbed the well at rates ranging from a low of 150 bbl./day (24m3/day) to a high of 550 bbl./day (90m3/day), to try and determine optimum production results for accurate production equipment sizing. Oil cuts at the higher of 550 bbl./day swabbed rate ranged from 55% -85% oil. The fluid level at these swab rates remained stable at 100 m to 194 m below ground level, indicating that the well should easily be able to sustain fluid production rates in excess of 550 bbl./day, and possibly much higher. The Company is currently working with their contractor to establish the most economically profitable method of development of the balance of the field. "Bob Burton" _________________ Bob Burton, President THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.

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