Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

June 06, 2006 07:00 ET

Powder River Continues Tremendous Progress in Goliad County, Completes Drilling on Two Wells

CALGARY, ALBERTA--(CCNMatthews - June 6, 2006) - Powder River Basin Gas Corp. (OTCBB:PRVB), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced an update on the Weesatche Field project in Goliad County, Texas.

Due to heavy rainfall the development of the two Stumfoll wells was postponed to work on wells in higher locations. The Elizabeth Justen #1 well was drilled to 4100 feet and logged eight pay zones on June 4, 2006. Two of the zones have tested flowing pressures of 1100 psi and 1073 psi respectively on June 5. Currently production casing is being cemented and completion will commence this week.

Pressure is substantially higher than the J.P. Green #1, which is currently producing 1600 mcf per day.

The Dohman #1 likewise has multiple pay zones to 3700 feet, seven of which appear very prolific, however test results are not available at this time. Production casing is in the hole and completion operations will commence this week.

The drilling rig is setting up on the next location and Powder River Basin Gas Corp. plans to spud in by the end of the week.

"We are very pleased with the rapid progress we are making on this project, and are extremely excited with the results of our drilling to date. We are executing on our vision for the Company's oil and gas production and with the current high price of natural gas, each well will greatly contribute to our cash flow," 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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