WEST BORE REVEALS A LOT OF POTENTIAL PAY

In our continuing effort to keep all of our partners in the loop, regarding the progress of West Janice #1 Joint Venture Project, we have decided to make you all privy to this email from our partner Bret Boteler of EnerMax, Inc. regarding a report from a Halliburton West Texas Specialist, that shows the potential of this high quality area where West Janice #1 is positioned.

RockVision Electric Log
By: Bret Boteler -
Partners,

Attached you will find the RockVision Log from Halliburton that was compiled by a Halliburton West Texas Specialist. It is a very large file and will most likely only be opened with Paint (software program).

The log is fairly simple to read. The easiest way to understand it is to look in the center of the page at the legend on the heading. Focus on the column labeled "metric Sand Ana". This stands for Volumetric Sand Analysis.

In this column you will see green and red shaded areas which represent hydrocarbons. The addition of blue means there is water present. Three columns over you will see a heading labeled Gross/Net Pay. The areas in red represent the most potentially productive areas of our well bore. Correlate these red areas of Gross/Net Pay with the red and green areas of the "metric Sand Ana". These are the areas picked by Halliburton to be of the highest quality.

Footages to look at: (footages are marked on the left side of the log)
5,150 - 5,400' (San Andres)
9,450 - 10,550' (Wolfcamp)
11,340 - 11,400' (1st Devonian)
11,410 -11,440' (2nd Devonian)

Bottom line is we have an incredible looking well bore with a lot of potential pay.

I will try to scan the separate sections of potential pay and post them up on the website early next week.

Enjoy your holiday weekend.

Regards,

Bret Boteler
President

As promised Bret has converted the log files to Adobe format and we have conveniently placed them on our secure server for you to download and view. Here are the relevant links.

(PLEASE NOTE: These are very large files, and can take a considerable amount of time to download depending on your Internet connection so we have created a condensed version that is also optimized and annotated. It is download "1" below. The annotations make reference to Bret's comments in his follow-up letter, which is also included in the beginning of this condensed version.)

1. http://www.permianco.com/investors/downloads/rock.vision.logs.combined.annotated.pdf

2. http://www.permianco.com/investors/downloads/devonian.log.section.west.janice.1.pdf

3. http://www.permianco.com/investors/downloads/wolfcamp.log.section.west.janice.1.pdf

4. http://www.permianco.com/investors/downloads/san.andres.log.section.west.janice.1.pdf

5.http://www.permianco.com/investors/downloads/woodford.shale.log.section.west.janice.1.pdf

If you do not have the Adobe software program to view this type of document you may download the free Adobe Reader software from the official Adobe Website here:

http://www.adobe.com/products/acrobat/readstep2.html

If you experience any difficulties viewing, printing, completing, or returning these documents to us, please do not hesitate to contact our Administration Team by replying to this email address:

admin@permianco.com or by faxing them to + 297.588.9665.

We hope this information has been informative and helpful towards keeping you up-to-date on the West Janice #1 Project.

:: Management ::

Permian Asset Management, AVV
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This press release / email may include forward-looking statements as defined by the Securities and Exchange Commission. Such statements are those concerning forecasts, estimates, expectations and objectives for future operations. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Statements regarding future production, reserve additions and capital expenditures are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks and regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that the actual results, or developments, may differ materially from those projected in the forward-looking statements.