Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

November 15, 2006 07:00 ET

Powder River Announces Revenues Over $17 Million for Nine Month Earnings

CALGARY, ALBERTA--(CCNMatthews - Nov. 15, 2006) - November 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 third quarter earnings for 2006.

Total revenues for the nine months ending September 30, 2006 were $17,792,770 as compared to $3,765,498 for the nine months of 2005. This is an increase of $14,027,272 or 372%.

For the nine month period, Powder River Basin Gas Corp. reported oil and gas sales of $1,021,625 net as compared to $519,415 for the same period of 2005. This represents an increase of $502,210 or 96%.

Net income before taxes for the nine months was $11,360,593, as compared to $873,761 in 2005. This is an increase of $10,486,832 or 1200%.

Powder River Basin Gas Corp. reported total expenses for production and marketing of $6,134,401 as compared to $2,790,564 for the same period of 2005. This increase in expenses is directly attributed to the increase and expansion of the Company's operations.

"I am thrilled that Powder River is maintaining such a level of success in 2006. I look forward to continuing our record-setting numbers through the year end, and into 2007," 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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