Powder River Basin Gas Corp.

Powder River Basin Gas Corp.

March 15, 2005 07:00 ET

Powder River to Acquire Proven Oil and Gas Producing Project Currently Valued in Excess $61 Million


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: POWDER RIVER BASIN GAS CORP.

OTC Bulletin Board SYMBOL: PRVB

MARCH 15, 2005 - 07:00 ET

Powder River to Acquire Proven Oil and Gas Producing
Project Currently Valued in Excess $61 Million

CALGARY, ALBERTA--(CCNMatthews - March 15, 2005) - Powder River Basin
Gas Corp. (OTCBB:PRVB)

- Oil Reserves in Excess of 5 Million Barrels and Potential to Produce
In Excess of 5000 MCF Per Day -

Powder River Basin Gas Corp., a revenue generating producer and acquirer
of crude oil and natural gas, today announced the Company has entered
into a letter of agreement to purchase a large producing and development
oil and gas project. At the request of the producer, further information
on the project will be provided upon commencement of activity.

Engineering studies indicate proven reserves in excess of 5 million
barrels of oil plus a deep natural gas reservoir which is undeveloped on
this project. The gas is at approximately 8600 feet and has the
potential to produce 3000 to 4000 mcf per day per well.

Discounted to 10% the current values of proven reserves are estimated at
approximately $61,000,000.00.

Upon completion of the re-work program cash flow will increase by
approximately $500,000.00 per month and double the Company's reserve
base.

Powder River Basin Gas Corp. is active in production and acquisition of
crude oil and natural gas.

Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.

This press release may contain "forward-looking statements" as that term
is defined in the Private Securities Litigation Reform Act of 1995. Such
statements are based on management's current expectations and are
subject to a number of factors and uncertainties which could cause
actual results to differ materially from those described herein.
Although the Company believes that the expectations in such statements
are reasonable, there can be no assurance that such expectations will
prove to be correct.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Powder River Basin Gas Corp.
    Patrice Nazareno
    Investor Relations
    Toll Free 1-866-515-7708
    www.powderrivergascorp.com
    or
    DeMonte Associates
    Cynthia DeMonte
    Public Relations
    (212) 605-0525