Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

August 16, 2005 11:48 ET

Powder River Creates Record Profit for Second Quarter, Oil and Gas Sales Increase Over 500%

CALGARY, ALBERTA--(CCNMatthews - Aug. 16, 2005) - Powder River Basin Gas Corp. (OTCBB:PRVB) a revenue generating producer of crude oil and natural gas, has announced record second quarter earnings for June 30th, 2005.

During the three month period, Powder River Basin Gas Corp. reported a significant increase in oil and gas sales compared to the same three month period from 2004. This marks an increase of approximately 527%, or $262,000. During the six month period of January 1, 2005 to June 30th, 2005, compared to 2004 earnings, the Company announced a significant increase in oil and gas sales of approximately $300,000 or 337%.

Total revenues for the first six months of the year were $2,263,460, with a net income before taxes of $1,568,238. Expenses were increased considerably, primarily due to the extensive well re-work and re-activation programs, which are currently in effect.

Powder River Basin Gas Corp. will continue its acquisitions and marketing program, with significant revenues expected in the third quarter of the year.

"With our extensive well re-work program continuing, along with the strategic acquisition and marketing program, the Company is positioned to substantially increase its record earnings for the third quarter of 2005," stated Powder River Basin Gas Corp. CEO, Brian Fox.

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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