Gary Nordin Appointed to Board of Directors
VANCOUVER, BRITISH COLUMBIA, May 27, 2010 - Portal Resources Ltd. ("Portal" or the "Company") (TSX.V: PDO) (FWB: P5H) is pleased to announce that the Company has appointed Mr. Gary Nordin to the Board of Directors. Mr. Nordin has 40 years experience in exploration and development for minerals and Oil/Gas since graduating with a Bachelor of Science (Honors) in Geology from the University of Alberta in 1970, several of those years with Blue Sky Petromark as a consultant on oil and gas projects and wells in western Canada. Mr. Nordin currently serves on the Company's Oil and Gas Advisory Board.
Mr. Nordin is a leading exploration geologist with a proven track record of identifying and developing mining projects. For example, as a co-founding Director and Vice President of Bema Gold Corporation, he successfully identified significant open pit type heap leach gold reserves in the United States and Chile, including the Refugio deposit (6 to 8 million oz). Subsequently, as a founding Director, Executive Vice President and Chief Consulting Geologist of Eldorado Corporation Ltd. from 1990 to 2000, Mr. Nordin participated in the discovery and development of several important gold deposits, including the La Colorada Mine in Mexico (1.0 million oz.), the Kisladag deposit (8.0 million oz.) in Turkey, as well as others.
Mr. Nordin has served on the Board of Directors of several publicly listed exploration and mining companies, was a Director and Vice President, Exploration for Portal Resources and a Director of Nevada Pacific Gold before its takeover by US Gold. He is currently a Director of Canasil Resources.
Founded in 1999 and based in Vancouver, Canada, the Company focuses on the exploration, development and exploitation of natural resources in North America. Please refer to the Company's website at www.portalresources.net
ON BEHALF OF PORTAL RESOURCES LTD.
"David Hottman"
President & CEO
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.
For further information contact: Dan Gibbons or David Hottman
Telephone: 604-629-1929 • Facsimile: 604-629-1930 • E-mail: info@portalresources.net
Or visit our website at www.portalresources.net
Telephone: 604-629-1929 • Facsimile: 604-629-1930 • E-mail: info@portalresources.net
Or visit our website at www.portalresources.net
Portal Appoints Barry Reid to Oil & Gas Advisory Board
VANCOUVER, BRITISH COLUMBIA, May 25, 2010 - Portal Resources Ltd. ("Portal" or the "Company") (TSX.V: PDO) (FWB: P5H) is pleased to announce the appointment of Mr. Barry J. Reid, B.Sc., P.Eng., to the Company's Oil and Gas Advisory Board. Mr. Reid is an accomplished mechanical engineer (University of Alberta 1984) with 25 years of oil and gas experience in Western Canada covering all aspects of the oil and gas business from corporate start ups, project evaluations and acquisitions through design and implementation, to the management and optimization of production projects. Most recently he has successfully built and sold two of his own private E&P companies.
During his career Mr. Reid has held positions with Husky Energy/Renaissance Energy and Dome Petroleum among others. As a Senior Exploitation Engineer with Husky Energy Mr. Reid's responsibilities included pool development, optimization and an ongoing review of new techniques for horizontal drilling, water shut-offs, stimulations and re-completions. His accomplishments include the full cycle development of the Suffield Military Block with estimated original oil in place of 65 million barrels completing 35 horizontal wells and associated facilities within a 6 month timeframe; production peaked at 1,800 barrels of oil per day. While at Dome Petroleum, Mr. Reid held positions in the areas of Field and Production Operations, Facilities and Corrosion Project Management.
"Mr. Reid has a solid engineering track record combined with a wealth of oil and gas company building experience and I believe that he will be an invaluable addition to Portal's Oil and Gas Advisory Board as we build this business." (stated David Hottman, Chairman, CEO)
Portal Resources Ltd. was founded in 1999 and is based in Vancouver, Canada with a focus on the exploration, development and exploitation of natural resources in North America. Please refer to the Company's website at www.portalresources.net
ON BEHALF OF PORTAL RESOURCES LTD.
"David Hottman"
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.
Telephone: 604-629-1929 • Facsimile: 604-629-1930 • E-mail: info@portalresources.net
Or visit our website at www.portalresources.net
Portal Corporate Update
Portal Resources Ltd. (TSX-V: PDO) is pleased to report that the Bigwave Joint Venture is in the final stages of securing fixed bid price quotes to frac* and complete the first horizontal well on its project in central Alberta. Portal has a 22% interest in the Joint Venture. If the well has an economic level of hydrocarbons, the Joint Venture will begin planning further development of up to an additional 45 drill locations.
The Joint Venture has recently acquired additional lands, bringing the total lands controlled to 11,360 acres or 17 ¾ sections.
In addition, Portal has acquired a 100% interest in two parcels of land (the Border Play) totaling 560 acres or 0.875 square miles in a recent Crown Land Sale (Province of Alberta). The two parcels lie within the Esther Bakken Oil Pool which has produced approximately 4.8MMBBL (million barrels) of oil to date. The exploration target on these lands is designed to offset currently producing light oil wells within the Bakken Sand Formation.
The Company has decided not to proceed with the non-brokered private placement announced on January 26, 2010.
About Portal
Portal Resources Ltd. was founded in 1999 and is based in Vancouver, Canada with a focus on the exploration, development and exploitation of natural resources in North America. Please refer to the Company's website at www.portalresources.net
* multi-stage hydraulic fracture stimulation - refer to the animation video on fracing, located on the Portal website homepage.
ON BEHALF OF PORTAL RESOURCES LTD.
"David Hottman"
President & CEO
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Telephone: 604-629-1929 • Facsimile: 604-629-1930 • E-mail: info@portalresources.net
Or visit our website at www.portalresources.net
Portal Increases After Pay-Out Interest in Bigwave JV
Portal Resources Ltd. (TSX-V: PDO) (the "Company") is pleased to announce that it has agreed to purchase a 6.6% "after pay-out" working interest (the "Interest") in the Company's Bigwave Oil and Gas Joint Venture (the "Joint Venture") for a total of C$5,000 in cash and 500,000 common shares in the capital of the Company.
The Participation Agreement was previously announced by the Company on April 14, 2009. The Agreement currently requires Portal to assign 30% of its 22% working interest in the Joint Venture (net 6.6%) to certain other participants in the Joint Venture after Portal recovers all of its invested capital from its share of oil and gas production revenue (after pay-out). On the closing of the purchase of the Interest, the Participation Agreement will be terminated and Portal will hold a 22% working interest in the Joint Venture.
The Company's obligation to complete the purchase of the Interest is subject to the satisfaction of certain normal conditions precedent, including the completion of due diligence and receipt of any required approval from the TSX Venture Exchange.
Portal Resources Ltd. was founded in 1999 and is based in Vancouver, Canada with a focus on the exploration, development and exploitation of natural resources in North America. Please refer to the Company's website at www.portalresources.net
ON BEHALF OF PORTAL RESOURCES LTD.
"David Hottman"
President & CEO
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Telephone: 604-629-1929 • Facsimile: 604-629-1930 • E-mail: info@portalresources.net
Or visit our website at www.portalresources.net
Portal Re-Prices Private Placement
All other terms of the private placement remains the same as announced previously.
The financing is subject to the approval of the TSX Venture Exchange.
Portal Resources Ltd. was founded in 1999 and is based in Vancouver, Canada with a focus on the exploration, development and exploitation of natural resources in North America. Please refer to the Company's website at www.portalresources.net
ON BEHALF OF PORTAL RESOURCES LTD.
"David Hottman"
President & CEO
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."