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 a depth of 1,056 feet or 322 meters. The anticipated Total target Depths is approximately 1,837 feet or 560 meters. As previously stated, according to the company's geophysical consultant's interpretation of the seismic, two drill target anomalies exist on the property. Seismic evidence collaborates our original geologic assumptions indicating the presence of multi zone targets, i.e. three zones in one drill target and two in the other. The zones are referred to as: Upper Grand Rapids A sand, Upper Grand Rapids B sand, and the Viking sand. Bruce A. Thomson, B.A.Sc., President & CEO states, "We are excited about the possibility of achieving success similar to the neighbor's well 3/4 of a mile away which tested 3.4 mmcf/day AOF (million cubic feet per day, absolute open flow)." 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.