Primary Petroleum -- Montana State Land Auction -- Investors

Updates

February 29, 2012: Primary Petroleum sold 20,000 nets acres at $170/acre in the Williston Basin: specifically Daniels County, northeast of Elm Coulee and far west of where the action is in the Bakken/Williston Basin. I believe this is/was their entire Williston Basin/Bakken play. Primary Pete says they are focusing on their other Montana play (see below).  Discussion about the sale; and, the corporate website on the day of the announcement (I assume the latter link will be lost/changed over time).

Original Post

I don't have time to follow much of anything outside the North Dakota Bakken, but I know some readers are interested in investment possibilities and some have asked me or sent me information about Primary Petroleum.

Today it was announced that Primary Petroleum got the bulk of acres leased in the largest western Montana state land auction to date.

Primary Petroleum acquired 31,286 net acres (49 sections) out of the 45,000 net acres available for auction at the largest Western Montana State Land Sale Auction to date.

Ticker symbol for Primary Petroleum: PIE.V.

CALGARY, ALBERTA--(Marketwire - 03/03/11) - Primary Petroleum Corporation is pleased to announce that it was successful at the March 1st, 2011 Western Montana State Land Sale Auction where it acquired 31,286 net acres (49 sections) out of the 45,000 net acres available for auction at the largest Western Montana State Land Sale Auction to date. The acquired state leases along with Primary's ongoing Land Acquisition Strategy has enabled the Company to accumulate over 242,000 long term net acres (380 sections) in the Southern Alberta Basin Bakken Fairway of Western Montana.