SOURCE: IOCircuit

July 27, 2005 08:39 ET

Capital Hill Acquires Interest in 300 Million Barrel Oil Bid, Announces The IO Circuit

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- July 27, 2005 -- The IO Circuit recommends Capital Hill Gold, Inc. (OTC BB: CHGI), which reported that the Company has acquired an interest as technical partner on a 300 million barrel bid for petroleum and natural gas in Nigeria. The bid has been submitted and accepted in Nigeria's 2005 round of offshore concession auctions, with bid awards scheduled for September 24, 2005. Nigeria is the tenth largest oil producer in the world and 11th in natural gas reserves. Currently, major oil companies including Shell, ExxonMobil, ChevronTexaco and Conoco Phillips are producing and developing in Nigeria. Capital Hill's bidding partners include three Nigerian partners with experience and contacts in Nigeria. Most of Nigeria's crude oil production, comprising 10 major crude streams (including condensate), is light sweet crude, API grades 21-45, with a low sulphur content. Nigeria's marker crudes on the International oil market are Bonny Light and Forcados.

For more information go to http://www.vlcn.com/chgi72705.htm.

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