Portal Resources Ltd.

Portal Resources Ltd.

September 29, 2011 09:00 ET

Portal Completes Horizontal Oil Well at the Salt Lake Project in Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) - Portal Resources Ltd. (TSX VENTURE:PDO)(FRANKFURT:P5H) is pleased to announce that it has drilled and cased its third horizontal well in the Birdbear zone on its Salt Lake Project in West Central Saskatchewan. The well was drilled to a total depth of 1,225 metres, resulting in a horizontal leg of 289 metres. Good reservoir and oil staining were observed throughout the section. Completion and equipping operations are being scheduled.

This is the sixth well (three horizontal and three vertical) drilled or recompleted on the play since Portal initiated development in May of this year. Presently two vertical and one horizontal wells are producing at a gross rate of 85 (21 net) bopd. Portal is continuing to review and evaluate field data with a recompletion and workover pending on the two suspended wells.

Portal has a 25% working interest in the Salt Lake Project, which covers six sections of land (3,840 acres) near the town of Macklin in West Central Saskatchewan. The Birdbear oil play is a carbonate/dolomite formation that correlates to the Nisku formation in Alberta. The formation lies at a depth of approximately 800 metres with a pay zone of four to seven metres of 12° API oil. Horizontal wells drilled in Saskatchewan qualify for the provincial drilling incentive program (2.5% royalty on the first 100,000 barrels of oil).

Portal is well positioned to continue its reserve growth. The Company has identified additional drill locations on the Salt Lake Project and plans to drill additional horizontal wells during the fiscal year.

About Portal

Portal Resources is focused on the exploration and development of oil and gas in North America. Please refer to the Company's website for additional information at www.portalresources.net.


David Hottman, President & CEO

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