N🟁N

Pacific Energy & Mining Company: Pacific Energy Announces Commencement of Drilling at Johnson Bottoms Unit

  //business-finance.news-articles.net/content/200 .. ncement-of-drilling-at-johnson-bottoms-unit.html
  Published in Business and Finance on Friday, November 6th 2009 at 3:46 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

RENO, NV--(Marketwire - November 6, 2009) - Pacific Energy & Mining Company (PINKSHEETS: [ PEMC ]) is pleased to announce that the initial well at the newly unitized Johnson Bottoms Unit commenced horizontal drilling on November 3, 3009. The initial well is located in Section 22, 7 South 21 East, Uintah County, Utah.

The Operator of the Unit is Questar Exploration and Production. The target zone is the H4 member of the Greenriver formation at an approximate depth of 7,000 ft. All information on the drilling of the horizontal well is being held confidential. We estimate that the well will be completed within the next 30 days. There are 6 permitted wells on the unit at an approximate cost of $2.5 million each.

For further information on the Unit agreement visit [ www.pemc.us ]

About PEMC

The Company, through a General Partnership, holds working interest in oil wells in Cedar Rim Oil Field in Utah and working interest in numerous non-operated oil and gas wells in Oklahoma. Additionally PEMC owns interest in Brennan Bottoms Oil Field in Uintah County, Utah, and interests in oil and gas fields in Grand County, Utah.

Disclaimer

The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.