Whiting Petroleum Begins Public Offering of Common Stock

Whiting Petroleum has commenced a public offering of 5,750,000 shares of common stock. The underwriters for Whiting's offering have been granted an option by Whiting to purchase up to an additional 862,500 shares to cover-allotments, if any.

Whiting expects to use the net proceeds from the proposed offering to pay the cash portion of the purchase price for the previously announced acquisition of the North Ward Estes properties and to repay a portion of the debt currently outstanding under the credit agreement of its wholly-owned subsidiary, Whiting Oil and Gas Corporation, that was incurred in connection with the acquisition of the Postle properties.

Merrill Lynch & Co., J.P. Morgan Securities Inc. and Wachovia Securities will act as joint book-running managers for the offering. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080. An electronic copy of the prospectus is available from the Securities and Exchange Commission's Web site at http://www.sec.gov.

The shares are being offered pursuant to an effective shelf registration statement that Whiting previously filed with the U.S. Securities and Exchange Commission.