Primary Petroleum Corporation
TSX VENTURE : PIE

Primary Petroleum Corporation

September 18, 2007 09:00 ET

Primary Petroleum Corp. Initial Public Offering Completed-Trading Begins Today

CALGARY, ALBERTA--(Marketwire - Sept. 18, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE USA

Primary Petroleum Corporation ("Primary" or the "Corporation")(TSX VENTURE:PIE), a junior oil and gas company, announces that on September 12, 2007 it successfully completed its initial public offering (the "Offering") of 8.5 million Units (the "Units") for gross proceeds of $8,500,000. In total, Primary has raised over $20 million in equity from institutional and accredited investors.

"Primary has received support from the institutional Investment community - the Offering was increased by $1.0 million over our original target and now provides the Corporation with the financial foundation in which to continue the Corporation's mandate of exploiting and developing its oil & gas prospects in Montana." stated Mike Marrandino, President.

Primary currently holds over 263,000 acres of prospective oil and gas leases in Montana and Alberta. These prospects are located in the Sedimentary Basin of the United States and Canada, with a secondary focus on non conventional resources. To date, Primary has seven strategic prospects; five in Montana and two in Alberta and has identified over twenty-six drillable targets; nineteen on its Montana Prospects and seven in Alberta. Based on the Company's geological model and 3D Seismic program in Montana, Primary has secured the opportunity to acquire up to 1,000,000 acres of oil & gas leases under similarly favourable terms. Primary will maintain Operator status on its prospects.

The IPO was led by Canaccord Capital Corp. The Unit Offering consists of one common share and one-half of a tradable common share purchase warrant. The warrant symbol will be PIE.WT. The Corporation intends to use the net funds to continue leasing of its oil & gas prospects in Montana; a 3D seismic program in conjunction with its 10 well drilling program on its Pondera-Teton and Saturn prospects in Montana; continued exploration and development on its Alberta properties, administrative costs, annual property rental payments and general working capital.

About Primary Petroleum

Primary Petroleum Corp. (PIE) is a growing oil and gas company actively engaged in exploration and development activities in Montana and Alberta with its head office in Calgary and offices in Vancouver & Choteau, MT. Primary's management and technical teams include accomplished oil and gas exploration and development personnel, with extensive experience. Primary will seek to diversify risk, when appropriate, by partnering or sharing working interest with industry on a project by project basis, while developing and maintaining control of the Company's own land plays and drilling operations. Management's goal is to continue to acquire and develop projects that could significantly impact shareholder value.

For information on our prospects and management team, please visit our website at www.primarypetroleum.com.

On behalf of the board of PRIMARY PETROLEUM CORPORATION

This News Release is Not an Offer of Securities

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States or to U.S. persons absent registration under the United States Securities Act of 1933 and applicable state securities laws, unless an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus that contains detailed information about the Corporation and its management, as well as financial statements.

This news release has been prepared by management. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbour.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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