International PetroReal Oil Corporation

International PetroReal Oil Corporation

August 08, 2008 15:22 ET

International PetroReal Announces Election of New Board of Directors

CALGARY, ALBERTA--(Marketwire - Aug. 8, 2008) - International PetroReal Oil Corporation (TSX VENTURE:IPO) ("PetroReal" or "the Company") today announced that, at the Company's Annual and Special Meeting of Shareholders held late yesterday, shareholders elected the following Board of Directors.

The Board is comprised of the following individuals:

- Ernst Schlotter, Director of International PetroReal since November 2007, President and Chief Executive Officer of SISM Research, a Swiss financial analysis firm

- Rolf Uebersax, Director of International PetroReal since June 2006, accountant and owner of Swiss consulting firm RMU

- Patrick McGowan, Chief Financial Officer, Executive Vice President and Director of MIV Therapeutics Inc.

- Gregor Rominger, independent Swiss-based consultant for international banks

The Board has appointed the following officers as its new management team:

- Ernst Schlotter, President and Chief Executive Officer

- Patrick McGowan, Chairman

- Edward Borrelli, Executive Vice-President

Mr. Borrelli is the President of Dunedin Inc., an international corporate advisory services firm based in New York.

"The new management team plans to invigorate the Company by consolidating the inventory of prospects available to it," said Ernst Schlotter, President. "PetroReal's investment fundamentals are underpinned by solid assets that can deliver increased, sustainable shareholder value over the near and long term," said outgoing President, Mark Hlady. "The outgoing management team looks forward to working with the new Board to effect a seamless transition, with shareholders' best interests in mind."

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. International PetroReal's business plan is the ongoing enhancement of shareholder investment and value through a pragmatic strategy of exploration, development and timeliness.

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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