Primary Petroleum Corporation

Primary Petroleum Corporation

March 03, 2011 10:00 ET

Primary Petroleum Successful at Montana State Land Sale, Increases Land Holdings to Over 242,000 Net Acres (380 Sections) in Southern Alberta Basin Bakken Fairway of Western Montana

CALGARY, ALBERTA--(Marketwire - March 3, 2011) - Primary Petroleum Corporation (TSX VENTURE:PIE)(PINK SHEETS:PETEF) ("Primary" or the "Company") is pleased to announce that it was successful at the March 1st, 2011 Western Montana State Land Sale Auction where it acquired 31,286 net acres (49 sections) out of the 45,000 net acres available for auction at the largest Western Montana State Land Sale Auction todate. The acquired state leases along with Primary's ongoing Land Acquisition Strategy has enabled the Company to accumulate over 242,000 long term net acres (380 sections) in the Southern Alberta Basin Bakken Fairway of Western Montana.

"We are very pleased with the results of the Montana State Land Sale, as the acquisition of these long term leases enables Primary to fill in the some of the gaps in its contiguous lease holdings in order to move forward with our 3D seismic and drilling program." states Mike Marrandino, President and CEO. "As the largest contiguous lease holder south of the Blackfeet Indian Reservation in Western Montana, Primary is well positioned to exploit its current land holdings through the implementation of a 3D seismic, multi-well vertical and horizontal drilling program that it intends to execute through the balance of 2011. Primary Petroleum will continue its ongoing discussions with potential Industry Partners that have expressed an interest in a Joint Venture opportunity with it's Western Montana Bakken Fairway prospect.

About Primary Petroleum Corporation - Primary Petroleum is a junior oil and gas company engaged in exploration and development activities in Montana and Alberta and currently holds substantial land positions in two unconventional tight oil plays in North America; the Saturn Prospect in the Williston Basin and the Pondera-Teton Prospect in the Southern Alberta Basin. 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 qualified industry partners to exploit and develop them. To learn more about us, please visit our website at:

FORWARD LOOKING STATEMENTS DISCLAIMER: Certain statements in this document may contain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking statements or information include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

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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