Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

August 15, 2006 07:00 ET

Powder River Announces Revenues Over $12 Million for Six Month Earnings

CALGARY, ALBERTA--(CCNMatthews - Aug. 15, 2006) - Powder River Basin Gas Corp. (OTCBB:PRVB), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced the results of the second quarter earnings for 2006.

Total revenues for the six months ending June 30, 2006 were $12,395,797 as compared to $2,688,460 for the six months of 2005. This is an increase of $9,707,337 or 361%.

For the six month period, Powder River Basin Gas Corp. reported oil and gas sales of $795,797 as compared to $388,460 for the same period of 2005. This represents an increase of $407,337 or 104%.

Net income before taxes for the six months was $7,891,931, as compared to $1,469,560 in 2005. This is an increase of $6,422,371 or 437%.

Powder River Basin Gas Corp. reported total expenses for production and marketing of $4,193,334 as compared to $1,120,227 for the same period of 2005. This increase in expenses is directly attributed to the increase and expansion of the Company's operations.

"We are very pleased and excited with the continued growth and expansion of the Company's operations and cash flow. We are continuing our aggressive purchasing, developing, and marketing program, and look forward to maintaining record setting earnings for the remainder of 2006," stated Powder River Basin Gas Corp. CEO, Brian Fox.

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

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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