Powder River Basin Gas Corp.
OTC Bulletin Board : PRVB

Powder River Basin Gas Corp.

March 05, 2007 07:00 ET

Powder River Recognized for Tremendous Success in Texas, Receives New Field Designation

CALGARY, ALBERTA--(CCNMatthews - March 5, 2007) - Powder River Basin Gas Corp. (OTCBB:PRVB), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced that due to the success of the development of the Weesatche project in Goliad County, Texas, it has obtained a new field designation from the Texas Railroad Commission effective February 23, 2007.

The Railroad Commission, which is the regulatory agency over the Oil and Gas Industry in the state of Texas, approved the final order #02-0250154 on February 23, 2007 which designates the new field "THE POWDER RIVER CONSOLIDATED FIELD".

The order incorporates 52 other fields and is effective in a three mile radius of the field.

Powder River was notified of this honor by The General Counsel of the Texas Railroad Commission on February 28th, 2007.
The order is very significant in that new field rules were granted reflecting the success and expertise shown by Powder River in their project development in Goliad County.

The new Powder River Consolidated Field incorporates 52 other fields operated by other Companies including such industry leaders as Chesapeake, BP America, Exxon-Mobile, and El Paso.

The program developed by Powder River in Goliad County has proven that 3-D seismic should be the determining factor in the spacing of wells. Field spacing will now be determined by seismic factors and not distance spacing rules formerly in effect. The allowable has also been raised to allow production of 95% of deliverable gas.

The Company is continuing development in the field and will reassess the production rates and additional drilling locations over the next few months under the new designate allowables.

"We are deeply honored by the recognition of our success and leadership position by the Texas Railroad Commission in the field development in South Texas. We wish to express our sincere thanks to the Railroad Commission for acknowledging our contributions and extending this honor to us by naming the field the Powder River Consolidated Field," 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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