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Park Place Energy Corp. Announces Alberta Nordegg Property Work Program

Posted on: Tuesday, 11 August 2009, 08:00 CDT

VANCOUVER, Aug. 11 /PRNewswire-FirstCall/ - Park Place Energy Corp. ("Park Place" or "the Company") is pleased to announce the Company has received a Work Seismic program from a private petroleum engineering consulting firm. As previously announced by the Company on July 22, 2009 the engineering firm was engaged to develop a work seismic program for Park Place's two Alberta Nordegg land sections.

The seismic program was developed after the engineering consultants reviewed well logs, samples, completion tests and production for all known commercially productive wells located within approximately a ten mile radius of the lands. The estimated cost of the work seismic program is $385,000 including final interpretation and analysis by a third party independent Calgary based engineering firm.

Park Place has 100% interest in approximately 1280 acres of land acquired in the Alberta Landsales on July 16, 2008. The land is located within the Company's core exploration area surrounding its producing Eight Mile property in North Eastern British Columbia on the Alberta and British Columbia border.

The "Nordegg" Member is described as an organic-rich mudstone/marlstone that ranges from 15 to 30 m thick and extends over an area of 90,000 km sq in northeastern BC and adjacent parts of Alberta. The Nordegg is an important petroleum source rock in some areas and in other areas has gas shale potential.

About Park Place

Park Place Energy Corp. is a North American oil and gas company that is participating in high impact opportunities. The Company currently has gas production in North-East British Columbia and is committed to developing the asset as well as acquiring additional blue-sky gas opportunities in the area, with a focus on shale gas. Park Place's management is focused on optimizing profitability and enhancing shareholder value.

Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward-looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

SOURCE Park Place Energy Corp.

Source: PR Newswire

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