International PetroReal Oil Corporation

International PetroReal Oil Corporation

July 02, 2008 16:37 ET

International PetroReal Oil Corporation-Corporate Update

CALGARY, ALBERTA--(Marketwire - July 2, 2008) - International PetroReal Oil Corporation (TSX VENTURE:IPO) ("International PetroReal" or "the Company) announces that Mr. Benhard Anderson, Chief Operating Officer and Director of the company, was issued a notice of hearing on May 13th, 2008, by the Alberta Securities Commission considering whether it is in the public interest to order, among other things, the resignation of any position Mr. Anderson holds as a director or officer of any issuer. The hearing date is set for February 17, 2009. In the best interests of the company, Mr. Anderson has chosen to step down as Chief Operating Officer after the AGM on August 7, 2008 and will not run for the board as director at the AGM on August 7, 2008.

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. Recently restructured, International PetroReal's invigorated business plan is ongoing enhancement of shareholder invest
ment and value through a pragmatic strategy of exploration, development, acquisition 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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