Premium Energy Corp. (PPTL)

[Greg G]

TB,

The problem is without legal motivation I fear our Mr. Thomson will continue to do nothing. If that is the case, next year will come and go and we will still have lost 99% of our investment. Something and or someone has to motivate him to get the existing wells producing and new wells brought on line. If we truly can pump oil out of the ground using standard vertical pump technology then I would think that the cost to add wells is negligible relative to the return on the oil being pumped from the ground (also depending on # of barrels per day, per well). It is not like we have to use steam or solvents to get the oil from the sands and deal with all of the environmental issues.

The land leases are not going to last forever. Another concern, he BKs the Company the same time the leases expire and snaps them up in a new venture, leaving PPTL.PK with no assets.

If I trusted Mr. Thomson, then I would agree with you. Unfortunately, he is no longer someone I trust. He cares nothing for his investors. I can say that with complete conviction as he has left us holding the bag with zero information for two years!

Greg