Pacific Energy Resources Expands
Green River Basin Presence

November 11th, 2008 • Filed Under
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GREEN RIVER BASIN - Pacific Energy Resources Ltd. has entered into a Participation Agreement with Houston-based Shell and Wolverine Gas & Oil Corporation (Grand Rapids, MI)in order to explore and develop oil and gas interests.

Specifically, the joint operation will focus on the Pacific Creek prospect area in the Green River Basin (Freemont, Sweetwater, and Sublette counties). The Jonah field, located 20 miles NW of this prospect, is an analogue for the strike-slip traps in the west part of the Pacific Creek acreage and has an estimated 10.5 trillion cubic feet of gas within a 30,000-acre area.

The Pacific Creek prospect has structures identified by a 2-D seismic survey, which has been further defined by a US $4 million 3-D seismic survey over 130 square miles, funded by Pacific Energy. Based on the results of the 3-D survey and geologic modeling, two prospective wells are planned to be drilled before the end of 2006. Upon completion of the obligations under the Agreement, the Company will earn a 40% working interest in approximately 85% of the area and a 28% working interest in approximately 15% of the area. Pacific Energy will operate the two exploration wells.

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