Petrol Oil and Gas Accelerates Drilling Program

Petrol Oil and Gas plans to commence a five well drilling program this fall at its Petrol-Neodesha property in Kansas. In connection with the drilling program, Petrol has already filed drilling intents with the Kansas Corporation Commission. Recently, Petrol completed a three well drilling program in Petrol-Neodesha and those wells are now ready for stimulation and connection to its gas gathering pipeline.

As a result of the recent hurricanes and their impact on off shore oil and gas operations, we have accelerated our drilling activities," said Paul Branagan, Petrol's Chairman and CEO. "We are highly focused on increasing our production before winter impacts operations, and this fast paced program will allow us to achieve that. We are excited by the three well program that we recently completed, and will utilize the knowledge that we have gained in the area on this bigger program."

According to a December 31, 2004 Reserve Report, Petrol has gross Proved Reserves amounting to approximately 9.9 Billion cubic feet (BCF) within its Petrol-Neodesha properties. Petrol-Neodesha, located in the Thayer field, is a very active CBM gas producing area and lies within Wilson and Neosho counties, Kansas. Petrol currently produces natural gas from its 77 producing wells in Petrol-Neodesha.