Primera Energy Resources Ltd.

April 11, 2011 13:44 ET

Primera Energy Resources Ltd. (TSX-V:PTT) Announces Corporate Update on WD-4 Drilling Program

PORT OF SPAIN, TRINIDAD & TOBAGO AND CALGARY, ALBERTA--(Marketwire - April 11, 2011) - Primera Energy Resources Ltd. ("PERL" or the "Corporation") (TSX VENTURE:PTT) is pleased to announce a corporate update.

Optimal Block WD-4

Primera has spudded the first of at least 2 planned sidetrack redrill wells to be drilled in this quarter. The well is planned to be drilled to a depth of approximately 5,300 feet to recover stranded reserves from the Upper and Lower Forest formations which were producing in the original PS 131 well. The original well went off production at a rate of 60 bopd. This planned sidetrack redrill is expected to encounter a total of approximately 270 feet of net pay. Drilling is expected to take approximately 15 days from spud.

About PERL

PERL is a TSX Venture Exchange listed issuer which currently produces approximately between 250-275 barrels of oil per day pursuant to a lease operatorship in South Central Trinidad, has a 16.2% entitlement to the Cory Moruga Block and a 10% entitlement to a Production Sharing Contract for onshore India block CB-ONN-2005/11.

Statements in this press release may contain forward-looking information including expectations of the exclusivity agreement, future operations on Optimal WD-4, the completion of the private placement, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the issuer. These risks include, but are not limited to, the risks associated with the capital markets, oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

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

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