Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

January 31, 2007 07:01 ET

Powder River Completes Eleventh Well in Goliad County, Continues 100% Success Rate

CALGARY, ALBERTA--(CCNMatthews - Jan. 31, 2007) - Powder River Basin Gas Corp. (OTCBB:PRVB), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced they have completed the 11th well of the 14 well program on the Weesatche project in Goliad County, Texas. The completion of this well continues the Company's 100% success rate.

The Cutberth #1 logged over 100 feet of pay sand in ten different lobes of the Frio gas sands. Bottom hole pressure was 1410 psi with gas recorded to surface. In comparison, the Justen #1 tested at 900 psi and has maintained this flowing pressure from a two foot interval producing 540 mcf per day. The Cutberth #1 will start production at 750 mcf per day and may be increased after it has been monitored for a few weeks.

"We are very excited that we are nearing the completion of this 14 well program. This well shows the best test results of the eleven wells completed thus far on this project. The results we have obtained have been phenomenal, and we are thrilled at the outcome the use of 3-D seismic has given us," stated Powder River Basin Gas Corp. CEO, Brian Fox.

Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties.

Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.

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