International PetroReal Oil Corporation

International PetroReal Oil Corporation

August 05, 2008 06:00 ET

International PetroReal Reaffirms Its Commitment to Increasing Shareholder Value With a Majority Vote for the BLUE Proxy

Strategy in Place and Ready to Go - Vote Closes at 3:00 p.m. MT Today

CALGARY, ALBERTA--(Marketwire - Aug. 5, 2008) - International PetroReal Oil Corporation (TSX VETURE:IPO) ("PetroReal" or "the Company") reaffirms its advisory to shareholders to execute the BLUE proxy before the vote closes at 3:00 p.m. MT today.

Since the launch of the proxy battle, the dissident shareholders have yet to present a strategy on how they plan to grow shareholder value. By contrast, Management's vision, strategy and plans for execution are clear: to become a 1,700 boed organization in the next 18 months.

Supporting this plan are the following fundamentals:

- A large and diversified oil and gas portfolio

- An inventory of "ready to go" low-risk prospects, complemented by attractive drilling upside

- New drilling and exploration opportunities on a large land package

- A strong, experienced, aligned Management team and Board of Directors committed to successfully growing the Company and increasing shareholder value

"These fundamentals represent solid opportunities and a sound plan for growth, with potential for good results over the near and long term," said Mark Hlady, President and Director of the Company. "To move forward we need capital, which we are confident that we will secure once shareholders elect Management's proposed Board of Directors."

Management also clarified its statement of fact issued in a July 28, 2008 news release that, according to a SEC Form 8-K filing, Patrick McGowan, a Director nominated by the dissident shareholders, was served a summons in New York. The Company has since been advised that the New York state court declined jurisdiction and that the parties are dealing with the matter in British Columbia, where Mr. McGowan resides.

Shareholders are urged to execute their BLUE proxies immediately as the vote closes at 3:00 p.m. MT today. Due to the limited time available, shareholders can vote by internet, telephone or facsimile. "The growth of this company and the potential to increase shareholder value depends on shareholders voting the BLUE proxy," added Mr Hlady. "Their vote is extremely important regardless of how many shares they own."


Questions and Further Assistance

If you have any questions about the information contained in this document or require assistance in completing your BLUE proxy form, please contact our proxy solicitation agent at:


North American Toll Free Number: 1-866-682-6168

There are a number of important matters that each Shareholder should carefully consider in connection with the Meeting:

- Your vote is extremely important regardless of how many Common Shares you own. Please take the time to cast your vote today.

- Time is short and voting is a very quick and easy process. To be effective your BLUE proxy must be received before and no later than 3:00 p.m. (Calgary time) August 5, 2008. Due to the limited time available, we recommend you consider voting by internet, telephone or facsimile.

- Even if you have already voted using the dissident proxy, you have every right to change your vote simply by executing the BLUE form of proxy. It is the later-dated proxy that will be counted.

Please discard any proxy or related materials you may have received from the Dissidents and vote using only the control number on the BLUE form.

About International PetroReal Oil Corporation

International PetroReal Oil Corporation is a Calgary-based, emerging, TSX Venture-listed company that is focused on exploration, development and production of crude oil and natural gas, primarily in North America. The Company operations are located in central and southern Alberta, southwestern Saskatchewan and Louisiana. Recently restructured, International PetroReal's invigorated business plan is ongoing enhancement of shareholder investment and value through a pragmatic strategy of exploration, development and timeliness.

For further information visit the Company's website at

Reader Advisory

Certain information regarding International PetroReal Oil Corporation in this disclosure including management's future plans and operations, drilling inventory and wells to be drilled, timing of drilling and tie in of wells, productive capacity of new wells, capital expenditures and timing thereof, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, but not limited to, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserves estimates, environmental risks, competition from other producers, inability to retain equipment.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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