CREDO Petroleum Announces Three-for-Two Stock Split

CREDO Petroleum Corporation (Nasdaq: CRED) announced that its Board of Directors has approved a three-for-two split of the Company's Common Stock.

Shareholders of record as of the close of business on September 26, 2005, will be issued a certificate representing one additional share of CREDO Petroleum Corporation Common Stock for each two shares of Common Stock held on the record date. CREDO's transfer agent will mail the new stock certificates on or about October 11, 2005. NASDAQ rules set the ex-dividend date one business day after the mailing date, or October 12, 2005. The stock split will increase the number of shares of Common Stock outstanding to approximately 9.1 million shares.

James T. Huffman, President, said: "This action highlights the Board's confidence in CREDO's strong financial performance and its growth prospects. It also reflects the Board's continuing commitment to improving the liquidity of the Company's Common Stock and broadening the Company's ownership."