Premium Petroleum, Inc.
PINK SHEETS : PPTL

Premium Petroleum, Inc.

September 08, 2005 08:30 ET

Premium Petroleum, Inc. Acquires Petroleum and Natural Gas Rights

CALGARY, ALBERTA--(CCNMatthews - Sept. 8, 2005) - Premium Petroleum, Inc. (PINK SHEETS:PPTL) today announced that the Company has purchased the petroleum and natural gas rights to 640 acres of land approximately 60 miles northeast of Edmonton, Alberta, Canada.

"We are excited about the opportunity before us," commented Bruce Thomson, President and Chief Executive Officer Premium Petroleum, Inc. "PPTL is set to explore petroleum and natural gas reserves in this newly acquired property. This area is well known for its oil and gas reserves whereas a well recently drilled three quarters of a mile northwest of our property was absolute open flow tested (AOF) at 3.4 mmcf per day. PPTL is set to explore petroleum and natural gas reserves in this acquired property in a next several months," concluded Thomson.

About Premium Petroleum, Inc.

Premium Petroleum, Inc. is an emerging junior oil and gas company financially well connected, coupled with a strong management and technical team focused on exploiting oil and gas reserves in the Western Canadian Sedimentary basin to 6000 feet in depth. Management intends to pursue a growth strategy through Land Assembly, Farmin / Farmout and Acquisitions. Company has assembled a seasoned team of managers and technical professionals in the areas of geology, engineering, and legal (Petroleum Landman).

For more detail about the company, its management, and projects, please refer to our web site: www.premiumpetroleum.com.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.

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