SOURCE: Portrush Petroleum Corporation

August 02, 2006 11:57 ET

Scanio-Shelton #7 to Go on Production

VANCOUVER, BC -- (MARKET WIRE) -- August 2, 2006 -- Portrush Petroleum Corporation (TSX-V: PSH) (OTCBB: PRRPF) (http://www.portrushpetroleum.com) wishes to provide an update regarding its continuing operations on the Scanio/Shelton No.7 well in the Mission River property in Texas. The well reached total depth of 8,544 feet last month and the operator has advised that a service rig has moved on location. The operator anticipates perforating the first of the hydrocarbon-bearing sandstones within a matter of days and placing the well on production.

The Scanio Shelton #6 was drilled earlier this year and penetrated several hydrocarbon-bearing sandstones. These zones were also present in the number seven well and at least two of the zones will be tested in this well. The producing zone in well number six continues to produce at a rate of 1.7 million cubic feet of gas and forty barrels of condensate a day. The Company is getting the benefit of the recent increase in the price of natural gas.

The operator has already decided to proceed with a multi-well development program to develop the field.

If successful, the number seven well can be placed on stream almost immediately with only minor up-grades to the existing production system to handle the anticipated increase in production volumes.

For additional Portrush investor relations needs, investors are asked to visit the Portrush IR Hub at http://www.agoracom.com/IR/Portrush where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to PSH@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

About Portrush Petroleum Corporation:

To find out more about Portrush Petroleum Corporation visit our website at www.portrushpetroleum.com or visit our Investor Relations site at http://www.agoracom.com/IR/Portrush

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

ON BEHALF OF THE BOARD

Mr. Martin Cotter, President & Director

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

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