2009-08-10-2008-09-01
To purchase 3 producing wells.
Pemberton Energy Ltd., Calgary, (Toronto Venture: PBT) plans to acquire three producing wells and associated equipment in an undisclosed location from undisclosed buyers for an undisclosed price. Equipment includes pump jacks, two-phase separators, five storage tanks and one oil-treater cold-water recycling system. The assets are on eight acres with a mobile home to serve as a field office and a 740 Champion Grader to maintain well sites and access roads. Pemberton will release details about the location and production numbers at closing. Director Matthew Dodwell says, "This is an excellent opportunity for Pemberton. All the data gathered on the properties, and the immediate surrounding area is showing signs of real potential using minimal costs to maximize profit. With the acquisition of the properties, Pemberton has secured a revenue stream, multiple doors of opportunity, and various assets needed to continue forward in a productive manner, thus stabilizing the company as a whole."