PGNE Primegen Energy Corporation (CE)

PrimeGen Energy Corp. (Other OTC:PGNE.PK) ("PrimeGen" or the "Company") is pleased to advise that the Timan-Pechora Project oil well is a producing, commercially viable well.

The oil well was drilled, cased, completed and stimulated during the past month. This initial well is the first of 10 wells that are planned to be drilled and completed for the Timan-Pechora Project. Further details will be announced to stakeholders regarding the timing of the on-going development plan as information becomes available.

"We're obviously delighted with the results of this well," said Robert Charlton, President of PrimeGen. "We found what we hoped for when we entered the program. In addition, the short time between contract signature and production success is a testament to the good will and cooperation we have received from Kozik Energy Ltd."

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.

Primegen Energy (CE) (USOTC:PGNE)
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Primegen Energy (CE) (USOTC:PGNE)
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