🕐27.01.12 - 01:27 Uhr

PRIMARY PETROLEUM - INDUSTRY UPDATE - SOUTHERN ALBERTA BASIN BAKKEN FAIRWAY




PRIMARY PETROLEUM (PIE:TSX.V and PETEF: OTCQX) is pleased to provide you with the following update in the Southern Alberta Basin over the past week.



1.

Murphy Oil (MUR-Z)
announced in the Q4 Conference Call that their best well in the Southern Alberta Basin had an IP (Initial Production Rate) of 300 barrels a day (bbls/day) and has naturally flowed for 42 consecutive days.

It was high quality oil and they are budgeted to drill and complete two more wells in the South Alberta Basin this year.

It is interesting to note that even though MUR feels that the Exshaw (Bakken equivalent in the USA) formation has shown potential in their previous wells, this well is producing from the Three Forks formation.

2.

Newfield Exploration (NFX-Z)
permitted the Anderson horizontal well in T37N R10W in NW Montana.

It is encouraging to see NFX furthering their exploitation on their large acreage position in the Blackfeet Indian Reservation.

2.

Bowood Energy (C:BWD)
announced that their 2nd Alberta Bakken test well confirmed that the formation was over-pressured; the well has produced over 5,000 bbls of light oil and approx.

50% of injected load water in the previous two weeks.

In comparing public data on industry wells in the Alberta Bakken based on early cumulative production, their 2nd test wells appears to have the potential to be one of the better wells in the play to date.

4.

Primary Petroleums
vertical drilling program continues as we have drilled, cored and logged three wells.

We are currently half way through the initial six well vertical drilling program, with the collection and evaluation of key data from the well logs and cores on-going.

Once the vertical program is completed a general overview on the collection of data from the vertical program will be disseminated.

We hope you find the above informative.

Regards

PRIMARY PETROLEUM CORPORATION

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Primary Petroleum Corp
Suite 480, 700 4th Avenue SW
Calgary Alberta T2P 3J4
Canada

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