Additional Drilling to Commence on Petromin's Redwater Lands in Central Alberta June 2008
Monday, 02 June 2008
TSX.V Symbol: PTR
VANCOUVER, June 2 /CNW/ - Petromin Resources Ltd. (the "Company" TSX.V: PTR) is pleased to announce that it has successfully farmed out, at no cost to the company, the drilling of its 50% working interest in the 8th well (LSD 2 of Section 36 TWP 55, RGE 21 W4M) on its Redwater lands in Central Alberta. The Company will retain a non-convertible 11% gross overriding royalty on all production revenues from this well. The Company has identified a 9th drilling location on its Redwater lands and anticipates additional drilling upon the completion of the LSD 2 well.
The Company's current domestic Gross Production is at approximately 240 BOED being 60% oil and 40% gas.
On behalf of the Board of Directors
A. Ross Gorrell
Co-Chairman and President
For further information: Petromin Resources Ltd., 390-1090 W. Georgia
St., Vancouver, B.C., V6E 3V7, T. (604) 682-8831, F. (604) 682-8683