Primary Petroleum Corporation

Primary Petroleum Corporation

June 11, 2008 10:00 ET

Primary Petroleum Sells First Oil From Its Teton Prospect in Montana and Appoints New Director to Board

CALGARY, ALBERTA--(Marketwire - June 11, 2008) - Primary Petroleum Corporation (TSX VENTURE:PIE)(PINK SHEETS:PETEF) ("Primary" or the "Company") is pleased to announce it has sold its first 41 degree API oil yesterday from its 16-5 Highview well in Teton County, Montana. CHS Inc., which is headquartered in Denver Co., is contracted to purchase our oil. The selling price is based on the 30 day monthly average price of WTI minus $10.

"Yesterday was an exciting day in the young life of Primary Petroleum in Montana," stated Mike Marrandino, President & CEO. "This first sale of our oil exploited from our Teton prospect represents approximately three and one-half years of dedication by our management team, employees and consultants along with the support and confidence from our shareholders. We look forward to many more oil shipments from our Montana prospects for the foreseeable future."

Primary is also pleased to announce the appointment of Mr. Gerry Gilewicz as an independent Director and head of the Audit Committee for the Company, effective June 9, 2008.

Mr. Gilewicz is a Certified Management Accountant and has been the Chief Financial Officer of a junior oil and gas company for the past six years. Prior to that he was a Senior Manager in the tax group of Deloitte & Touche LLP providing tax planning and compliance services to resource based corporations and income trusts. Mr. Gilewicz is a member of the Finance Committee for the Small Exploration and Producer's Association of Canada and brings valuable insight and experience to the Company's Board.

In connection with his appointment, Mr. Gilewicz has been granted an option to acquire 200,000 common shares at an exercise price of $0.50 for a period of five years. The option shall be exercisable over a three year period in increments of 33 1/3 per year beginning with the first anniversary of the grant date, subject to the four-month hold period.

"We are very pleased to have Mr. Gilewicz join our Board. His experience in the oil and gas sector and expertise in both tax and finance will greatly assist in guiding the Company forward," stated Mike Marrandino, President and CEO.

Primary is a growing oil and gas company actively engaged in exploration and development activities in Montana and Alberta with its head office located in Calgary. Primary's management and technical teams include accomplished oil and gas exploration and development personnel, with extensive experience. The Company's mandate is to continue to aggressively acquire oil & gas prospects of merit in Sedimentary Basin of the Western United States and Canada with a focus on acquiring assets in Montana whereby Primary Petroleum maintains control of its own land plays and drilling operations.

To find out more about Primary Petroleum Corporation please visit the Company's website at

This news release has been prepared by management.

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

Contact Information