Lighthouse Petroleum Inc. Releases Positive Results from Satellite Imagery Study on its Prospective Wyoming Oil and Gas Acreage

SALT LAKE CITY--(BUSINESS WIRE)--Lighthouse Petroleum, Inc. (Pink Sheets:LHPT) is pleased to announce the results of the Geosensing report conducted by Hawkeye Geosensing Ltd. of Calgary, Canada on the Diamond Springs Prospect, located within the prolific Wind River Basin. Final results indicated a large concentration of potential hydrocarbons in three sections within the acreage where Lighthouse Petroleum Inc. holds a 25% working interest alongside with both G2 Petroleum LLC, of Midland, Texas and Force Energy Corp (OTCBB:FORC.OB).

Mr. Harry Patrick, President of Hawkeye Geosensing Ltd., estimates that there is a 75% chance of successfully finding new oil reserves based upon his firm’s most recent analysis of this Wyoming acreage. Furthermore, Mr. Paul Norat, Lighthouse Petroleum’s Chairman and CEO, states, “Our management is pleased with the results of the recent study that was commissioned on our Wyoming acreage. It provides another piece to the puzzle to better assist in determining the initial location for the inaugural Diamond Springs Wildcat. Additionally, it validates the third party geological report that confirms that the initial test well location should be CSENW of Section 9, T 32N, R 90 for the purpose of evaluating the hydrocarbon potential of the Dakota and Lakota sands stratigraphic traps on the North Diamond Springs Prospect.”

Mr. Norat further states, “Lighthouse Petroleum’s management feels that by comparing the geological assessment of Mr. C.P. Abrassart [A.A.P.G. Cert Pet Geol #1284] to the recent Geosensing study performed by Hawkeye Geosensing Ltd., the initial drilling location for the Diamond Springs Prospect is further validated. We have posted both Mr. Abrassart’s and Hawkeye Geosensing’s data on our website, www.lhpetro.com so that current and future shareholders can view the similarities of both professional assessments of the intended initial location.”

About the Digital Spectral Satellite Map

The map provided in the report is based on Digital Spectral Satellite images (“DSSM”). The interpretation is based on pixel pattern recognition algorithms, the 2.31um (micron) hydrocarbon absorption anomaly, stressed vegetation analysis, and the reflectivity ratios of iron and clay minerals as seen in spectral satellite data. All opinions are based on field experience and published data.

The DSSM map covers an area of over six square miles. The map shows the combined topography and spectral image. Red, orange and yellow areas show the best potential for commercial hydrocarbons. Oil-prone areas generally occur in the red and orange colored areas and natural gas occurs in yellow areas.

The DSSM maps are a useful tool in selecting drill sites and understanding potential production trends. DSSM used in conjunction with other geological and geophysical information should reduce risk and help in the selection of the optimum drill site.

Regional Overview

Diamond Springs is located within the Wind River Basin Province of central Wyoming, which is estimated by the United States Geological Survey to contain 41 million barrels of oil, 2.4 trillion cubic feet of natural gas, and 20.5 million barrels of natural gas liquids.

Other major operators who are active in the Basin include Conoco Phillips (Mkt Cap: $132B), Encana Corp (Mkt Cap: $63B), and Devon Energy (Mkt Cap: $53B). Independent operators include Howell Petroleum, Petroleum Resource Management, Richardson Operating Co, and Rockwell Petroleum.

The Prospect

The Diamond Springs Prospect is composed of three independent but geologically similar prospective locations within the 3,300-acre tract. West of Casper, Wyoming in the Sweetwater Mountains, this prospect is adjacent to both the Wind River Basin and the Casper Arch in Fremont County and is in close proximity to productive gas and oil fields.

The Northwest, North, and West Diamond Springs are shallow drilling prospects, 200 feet to 1,100 feet in depth, with 72 possible drilling sites within the three locations (based on 40-acre spacing). The drilling sites consist of stratigraphic pinch-outs of sands of the Cretaceous, Frontier, Dakota, Lakota, Jurassic, Morrison, and Sundance formations.

Third-party geological assessments suggest that there may be greater potential for further exploration in the deeper formations that may be present within this prospect. The initial focus is to exploit the shallower formations in order to take advantage of reduced investment risk and quicker return on investment.

About Lighthouse Petroleum, Inc.

Lighthouse Petroleum, Inc. (LHPT.PK - News) is an oil & gas exploration company headquartered in Salt Lake City, Utah. The company is publicly traded on the over-the-counter Pink Sheets trading system under the symbol LHPT.

Currently, Lighthouse Petroleum is focused on acquiring oil and gas assets in both the Permian Basin as well as within the Wind River Basin. Lighthouse Petroleum's first acquisition is located within the Wind River Basin allowing Lighthouse Petroleum the opportunity to develop unproven oil and gas reserves, thus contributing to our domestic energy needs. Additionally, management is currently seeking exploitation opportunities within the Permian Basin that will complement our Diamond Springs Drilling Prospect.

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.