2010-03-10-2009-12-16-2009-12-16

Acquired remaining 49% interest of subsidiary with license for North-Kopanskoye oil and gas field in Orenburg region in Volga-Urals Basin of Russia.

Premier Energy Corp., Dallas, (OTCBB: PNRC) has closed its acquisition of the remaining 49% interest in Karbon CJSC from Auxerre Trading Ltd.

Premier now owns 100% of Karbon, which holds the exploration and production license for the North-Kopanskoye oil and gas field in the Orenburg region in the Volga-Urals Basin of Russia.

Premier says it must raise the capital needed to continue its planned workover on existing wells and to begin drilling new production wells in the field.