Primary Petroleum Corporation

Primary Petroleum Corporation

September 08, 2010 10:00 ET

Primary Petroleum Increases Land Position by 17,000 Gross/Net AC. on Its Alberta Basin Bakken Project in Western Montana to 127,000 Gross/Net AC.

CALGARY, ALBERTA--(Marketwire - Sept. 8, 2010) - Primary Petroleum Corporation (TSX VENTURE:PIE)(PINK SHEETS:PETEF) ("Primary" or the "Company") is pleased to announce that its land acquisition strategy continues to add key acreage to its Western Montana Alberta Basin Bakken Fairway. The Company has successfully increased its land position by over 15% to approximately 127,000 gross/net acres (200 gross/net sections).

The Company holds over 147,000 gross/net acres (230 sections) in two Bakken prospects in the Bakken Fairway in Western Montana and in the Williston Basin, approx. 50 mi. northeast of the Elm Coulee Bakken Oil Field in Eastern Montana.

To date, the Montana Board of Oil and Gas has recorded 18 wells that have either been permitted, spud and/or drilled in the area by Rosetta Resources, Newfield Exploration, Provident Energy Assoc. of Montana LLC and Anschutz Oil and Gas.

In Primary's ongoing technical evaluation and review of this Western Montana Bakken Fairway and the area of interest that surrounds and is in close proximity to Primary's current land holdings, it has accumulated 18 well logs that have penetrated the Bakken formation, along with one drill core that identifies approx. 15 feet of oil saturation in the Middle Bakken formation. These wells were drilled back in the 1970's and 1980's and the technical information available on logs from that time is limited but very encouraging.

"We are very pleased and excited with our ongoing technical evaluation in the area, and can conclude with confidence that the Bakken formation is present over our lands. The logs that have been reviewed to-date show the total Bakken interval increasing in thickness to the south and estimate that the Bakken formation depth ranges from 4,000ft to 5,000ft," states Mike Marrandino, President & CEO. "We are in the very early stages of what may become a new Bakken Oil discovery in Western Montana and Southern Alberta, with all indications and news to-date in the area having been positive. Primary is very excited to be part of this potential major oil discovery."

Primary continues to meet with possible industry partners on a joint venture partnership for the exploitation of its Bakken prospects in both Western and Eastern Montana.

Primary Petroleum will be introducing the Company and its current Bakken Prospects to the Institutional Investment community in Toronto on Sept. 8th, 9th & 10th and in New York and Boston on Sept 15th, 16th and 17th .A copy of the Company's current Investor Presentation is posted on the website.

About Primary Petroleum Corporation: Primary is a junior oil and gas company engaged in exploration and development activities in Montana and Alberta. The Company's mandate is to continue to acquire strategic land positions of merit in the Sedimentary Basin of the Western United States and Canada and seek out industry partners to exploit and develop them.

Investors are cautioned that this news release contains forward looking information. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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