Primary Petroleum Corporation

Primary Petroleum Corporation

May 25, 2010 10:00 ET

Primary Provides Update on Its Land Holdings in the Alberta Basin Bakken in Western Montana

CALGARY, ALBERTA--(Marketwire - May 25, 2010) - Primary Petroleum Corporation (TSX VENTURE:PIE)(PINK SHEETS:PETEF) ("Primary" or the "Company") is pleased to announce that the recent funding has eliminated all of its debts and left the Company with working capital of approximately $1.2 million.

Primary holds 100% Working Interest ("W.I.") in approximately 130,000 net acres in two Bakken potential prospects in Montana. Its Teton – Pondera lands consist of approximately 110,000 net acres [167 sections] and are located within the 'Bakken fairway' and on trend with the recently acquired acreage by Rosetta Resources of 280,000 acres and Newfield Exploration of 220,000 acres.

"The ongoing drilling activity by both Rosetta and Newfield is very encouraging, which may prove a new Bakken discovery in Western Montana," commented Mike Marrandino, President & CEO. "For a junior oil and gas public company, Primary's shareholders are in a very enviable position having a large land position strategically located in close proximity of two majors like Rosetta and Newfield's."

In February, Rosetta announced that its 2009 drill program confirmed oil saturation and over pressurization in the Banff (Lodgepole), Bakken and Three Forks Formations. Oil was also recovered in the Nisku Formation. Rosetta further announced that they estimated a resource of between 12.5 million and 15.3 million barrels of oil in place ("OOIP) per section.

Primary has 26 square miles of Proprietary 3D seismic over its lands in Teton – Pondera as well as over 200 miles of 2D data in the area and is continuing to seek industry partners to exploit this multi zone prospect in Western Montana. The Teton-Pondera lands have year-round access and are close to existing infrastructure. The Company will announce its exploitation plans in the near future.

Primay's Saturn prospect in Eastern Montana has approximately 20,000 net acres [30 sections] which is prospective for oil in the McGowan, Mission Canyon and Bakken Formations. Primary has a 100% W.I. in these lands and is in preliminary discussions with a joint venture partner to develop them.

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

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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