PPTL Premium Energy Corporation (CE)

Premium Petroleum, Inc. (PINK SHEETS:PPTL) is pleased to announce that the Boyne Lake Gas Prospect drilling has progressed to TD (total depth) of 561 meters (1,841 feet). Management is encouraged with the findings and hence the well has been cased with production casing. Schlumberger has concluded running a suite of multiple logs as prescribed by our geologist. Our technical team will analyze the logs within the next 10 to 20 days and a completion and testing program will be designed. Completion and testing will occur over the next 60 to 90 days. The well is on "tight hole" (confidential) status for up to 12 months. Bruce A. Thomson, B.A.Sc.; President & CEO states "We are excited about this asset becoming a potential cornerstone to our company's growth". About Premium Petroleum, Inc. Premium is set to exploit petroleum and natural gas reserves in an environment of unprecedented commodity prices and under the guidance of a highly qualified management and technical team. Premium is an emerging junior oil and gas company financially well connected, coupled with a strong management and technical team focused on exploiting oil and gas reserves in the Western Canadian Sedimentary basin to 6000 feet in depth. Management intends to pursue a growth strategy through Land Assembly, Joint Ventures (Farmin / Farmout), and Acquisitions. The Company has assembled a seasoned team of managers and technical professionals in the areas of geology, engineering, and legal. With the depth of the management and technical team we have assembled, Premium is poised for aggressive asset growth and development. For more detail about the company, its management, and projects, please refer to our web site: www.premiumpetroleum.com. This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission. Premium Petroleum, Inc. (PINK SHEETS:PPTL)