SOURCE: Petro Resources Corporation

September 17, 2008 15:26 ET

Petro Resources Updates Status of Office Operations Due to Hurricane Ike

HOUSTON, TX--(Marketwire - September 17, 2008) - Petro Resources Corporation (AMEX: PRC) ("the Company"). The Company anticipates having office operations restored within a few days based on updates from building management. The building that houses the Company's office suffered no water or physical damge as a result of Hurricane Ike. The Company lost electrical power, phone, voice messaging, and e-mail capability as a result of the storm. In order to help resume corporate communications the Company has set up a temporary e-mail address for all e-mail correspondence. The temporary e-mail address is: petroresourcescorp@gmail.com. The Company asks that all e-mails be sent to this temporary e-mail address until office operations are fully restored. Incoming e-mails will be forwarded to the proper company contact.

The Company's production base was not impacted by the hurricane and remains up approximately 35% since the beginning of the year. Drilling activity in the Cinco Terry Prospect area in Crockett County was not hampered by the storm.

Management Comments

Don Kirkendall, President of Petro Resources Corporation, mentioned that "The Company was very fortunate during the hurricane and has only suffered the inconvenience of being without normal office services until electrical and phone service can be restored. We ask that e-mail communications be directed to the temporary e-mail address until we have fully re-established normal e-mail capability."

About Petro Resources

Petro Resources Corporation is an independent exploration and production company engaged in acquisitions of exploratory leases, acquisitions of producing properties, secondary enhanced oil recovery projects, exploratory drilling, and production of oil and natural gas in the United States.

For more information, please view our website at www.petroresourcescorp.com.

Forward-looking Statements

The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding the Company's expectations, beliefs, intentions or strategies regarding the future. Such forward-looking statements relate to, among other things: (1) the Company's proposed exploration and drilling operations on its various properties, (2) the expected production and revenue from its various properties, and (3) estimates regarding the reserve potential of its various properties. These statements are qualified by important factors that could cause the Company's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company's ability to finance the continued exploration and drilling operations on its various properties, (2) positive confirmation of the reserves, production and operating expenses associated with its various properties; and (3) the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Contact Information

  • Contact:

    Brad Holmes
    Investor Relations
    (713) 654-4009

    Don Kirkendall
    President
    (832) 369-6986