Replies to post #1622 on Premium Energy Corp. (PPTL)

[Greg G]

A4,

Yeah, I rounded the numbers for sake of discussion.

To answer your question, I believe that the primary term of the Crown Oil Leases that PPTL possesses are 15 years and can be renewed in 5-year increments...not positive though.

I believe there are three classifications for Crown Oil and Gas land acquisition and they are (as I recall):

1. SPECIAL EXPLORATORY PERMITS TERM: 5 years.

2. EXPLORATION LICENSES TERM: 5 years.
Extensions granted where a company is drilling over the expiry date (3 months) or where access to the lands had been denied due to such things as environmental issues.

3. LEASES TERM: the primary term is 15 years. Lease extensions available as long as improvements are made based on specific amounts per hectare (defined by governing body).

Again, as I recall, PPTL has purchased land leases (#3) above.

Best regards,

Greg