Primera Energy Resources Ltd.

November 22, 2011 09:30 ET

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

PORT OF SPAIN, TRINIDAD & TOBAGO and CALGARY, ALBERTA--(Marketwire - Nov. 22, 2011) - Primera Energy Resources Ltd. ("PERL" or the "Corporation") (TSX VENTURE:PTT) is pleased to provide the following corporate update.

Optimal Block WD-4

PS 266RD, the first well drilled during the current drilling campaign has been completed, initially in 131 feet of net pay between 5053' and 5312' in the Lower Forest formation. The well was put to pump and is currently producing 119 barrels of clean oil per day. Approximately 139' of net pay in the Upper Forest formation remain to be exploited.

The service rig has moved on to PS 111RD, the second well in the drilling program. This well found 295 feet of net pay in the Forest and Cruse formations and is being completed, initially in 45 feet of net pay in the Upper Cruse formation.

Production results for PS 111RD will be provided as soon as they become available.

Work is continuing on location preparation for PS 174RD which shall target the underexploited Cruse formation, and an infill/replacement well to PS 125 and will also be drilled.

About PERL

PERL is a TSX Venture Exchange listed issuer which currently produces approximately 500 bopd pursuant to a lease operatorship agreement in South Central Trinidad and has a 16.2% entitlement to the Cory Moruga Block.

Statements in this press release may contain forward-looking information including expectations of future operations, 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 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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