Primera Energy Resources Ltd.
TSX VENTURE : PTT

December 13, 2010 17:44 ET

Primera Energy Resources Ltd. (TSX-V:PTT) Provides Cory Moruga Operational Update

PORT OF SPAIN, TRINIDAD & TOBAGO AND CALGARY, ALBERTA--(Marketwire - Dec. 13, 2010) - Primera Energy Resources Ltd. ("Primera" or the "Corporation") (TSX VENTURE:PTT) is pleased to provide an operational update on Cory Moruga exploration.

Trinidad Exploration Update

MULTI ZONE TESTING COMMENCES

Snowcap-1, the second of two Trinidad exploration wells planned in 2010, reached a total measured depth of 8,600 feet on August 15, 2010 and has investigated a 3-D defined structure in the Herrera formation. The well penetrated potentially hydrocarbon bearing zones in both the primary and secondary objectives. Primera and its partners elected to case the well to a total measured depth of 8,600 feet to enable testing of the prospective zones.

Based on open hole wireline and mud logs, as well as cutting samples, the well encountered hydrocarbon bearing sandstones and limestones with oil and gas shows over an approximate 300 ft gross interval. The potential hydrocarbon bearing sandstones and limestones occurred in several secondary Lower Herrera and Eocene zones from a measured depth of approximately 7,940 ft to 8035 ft, 8090 ft to 8135 ft, and 8340 ft to 8445 ft, respectively. In the primary Herrera zone, the well encountered several hydrocarbon bearing sandstones from a measured depth of approximately 4580 ft to 4610 ft, 4650 ft to 4660 ft and 4680 ft to 4700 ft, respectively.

Parex as operator, has mobilized a service rig onto the Snowcap-1 location and has commenced their multi-zone testing program, having obtained all necessary regulatory approvals.

As reported earlier, Firecrown-1, the first of two Trinidad exploration wells planned in 2010, reached a total measured depth of 8,701 feet on June 14, 2010 and penetrated both the primary and secondary objectives in the Herrera formation.

Based on open hole wireline and mud logs, as well as cutting samples, the well encountered hydrocarbon bearing sandstones with oil shows in the secondary Herrera and from a measured depth of approximately 6,600 ft to approximately 7,220 ft. In the primary Herrera zone, the well encountered hydrocarbon bearing sandstones from a measured depth of approximately 8,150 ft to approximately 8,275 ft.

The C1 to C5 gas detector readings at both Firecrown-1 and Snowcap -1 are indicative of gas wetness and were present in both Herrera and Eocene zones. The wet gas readings are an indication of potential oil. While gas readings are one indicator of hydrocarbons, this does not necessarily indicate commercial net pay. An estimate of net pay will be published after all testing is satisfactorily completed. The test results will be a determinant of commercial quantities of hydrocarbons.

Primera and Parex have elected to deepen the Firecrown-1 well to approximately 10,500 feet in the first quarter of 2011, to fully penetrate the entire prospective section, prior to the commencement of a multi zone testing program. As reported earlier, the testing equipment is presently on the Snowcap -1 location.

Statements in this press release may contain forward-looking information including expectations of future operations, testing and plans. 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 oil and gas industry and well completion and testing, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in testing, 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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