Primary Petroleum Corporation

Primary Petroleum Corporation

July 06, 2010 10:30 ET

Primary Petroleum Provides Update on Its Alberta Basin Bakken Project in Western Montana and Completes Acquisition of Oil Project in Southern Alberta

CALGARY, ALBERTA--(Marketwire - July 6, 2010) - Primary Petroleum Corporation (TSX VENTURE:PIE)(PINK SHEETS:PETEF) ("Primary" or the "Company") is pleased to announce to its shareholders and the investment community that there has been increased activity in the Alberta Basin Bakken Fairway in Western Montana, where the company currently holds approximately 110,000 gross/net acres (171 sections). To date, the Montana Board of Oil and Gas has recorded 16 wells that have either been permitted, spud and/or drilled in the area by Rosetta Resources, Newfield Exploration or Anschutz Oil and Gas. The closest wells to Primary's land are approximately 12 miles to the north and west. Primary's geological and geophysical evaluation confirms that the Lodgepole, Bakken, Three Forks and Nisku formations extend over its land holdings.

Primary has had significant interest in its Montana prospects and the Company has commenced presentations to potential industry partners.

Long Coulee Acquisition in Southern Alberta

Primary Petroleum is pleased to announce that, subsequent to its News Release of November 10, 2009, Primary [W.I. 45%] and its joint venture partner have completed the acquisition of a 256 hectare (640 acre) oil prospect at Long Coulee in Southern Alberta. This area is prospective for light oil in the lower Mannville Sunburst Formation and offsets the Long Coulee Sunburst "I" Pool, which has produced over 1.2 million barrels of oil to date. Up to five locations have been identified on 3D seismic which was shot in December 2009. Primary anticipates that this prospect will be drilled in or around Q4 2010.

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.

To find out more about Primary Petroleum visit our website at

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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