PrimeGen Energy Corp. (Other OTC:PGNE.PK - News) ("PrimeGen" or the "Company") wishes to advise that as part of the recently announced participation agreement regarding an oil and gas project in Timan-Pechora, Russia, the operator has notified PrimeGen of their mobilization of equipment for the commencement of drilling within the participatory lands.

The well has been titled as the "Kochmesskoye" and is scheduled for immediate drilling with preliminary results anticipated within one week from commencement. The operator has advised that their equipment is currently on its way to the targeted location and drilling will begin shortly.

The Timan-Pechora Project area currently consists of 24 existing production oil wells with close to one billion barrels and 132 BCF of proven reserves. A discovery well tested 5,589 BOPD from zone at 3,958-3,974 meters. Timan-Pechora region is 17 kilometers from Ukhta, a major town in the Republic of Komi. The oil plays are situated approximately 1,200 km from Moscow. Its surrounding areas have well established infrastructure, allowing all year access for field operations. Power lines and a major highway pass through the territory. There is also a branch of the Transneft pipeline between Ukhta and Moscow that passes directly over the project. Additional transportation routes include a railway system, with the nearest terminal located close to Ukhta.

The area is a well documented and prolific region benefitting from the presence of established companies such as TNK-BP and Komineftegaz. The participating property has over 24 wells currently in production, from which PrimeGen's interest will result in immediate cash flow for the Company.

Company President Robert Charlton comments, "We are very pleased by the news that the operators of this project believe firmly in growth. Bringing an additional well into production certainly enhances and strengthens our rationale for participation in this expanding project. However, we are still looking at further strategic acquisitions with an eye to expand and diversify our asset portfolio to provide tangible value to our stakeholders and investors within realistic timelines."

About PrimeGen Energy Corporation

PrimeGen Energy Corp. is an oil and gas exploration Company whose primary focus is exploring and developing high potential unconventional resource plays. The Company�s strategy and development assets are focused on a prolific and historic oil and natural gas resource play in Krasnoarmeiskome District, Saratovskoi Oblast in Russia. The Company is headquartered in Bridgewater, NJ and has offices in Moscow, Russia. PrimeGen Energy plans to use its comparative advantages in certain geographic regions to expand rapidly through strategic acquisitions of small oil and gas producing entities and production assets including wells, properties, operating equipment, and pipelines.

Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage company in the alternative energy industry, its products, and the entry into new markets for such products. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's current and periodic reports filed from time to time with the Securities and Exchange Commission.

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