Premium Petroleum, Inc.
PINK SHEETS : PPTL

Premium Petroleum, Inc.

October 24, 2005 17:49 ET

Premium Petroleum, Inc. Adds Former Exxon Mobile Executive to its Management Team

CALGARY, ALBERTA--(CCNMatthews - Oct. 24, 2005) - Premium Petroleum, Inc. (PINK SHEETS:PPTL) is please to announce the appointment of Paul J. Bennett, H.B.Sc., M.Sc., P.Geol, as Vice President of Exploration, and also as Advisory Board member.

Mr. Bennett spent 31 years of his career with Exxon Mobil Canada. In this period of time he progressed in various management positions including Manager of Western Canada Exploration, Senior VP for Exploration and an officer of Mobil Oil Canada Ltd, and most recently Head of all Canadian Geoscientist with responsibility for EMC geoscience, technical computing, and well approvals for Western Canada (WCSB, namely Western Canadian Sedimentary Basin, Mackenzie, West Coast).

Mr. Bennett has done geological/technical work in every province and territory in Canada over a 36 year period, and has lived and worked in Europe and the USA. He has worked for oil and gas companies, mining companies and provincial geologic/mining surveys.

The Company will be looking to Mr. Bennett to source quality exploration and development projects, acquisition opportunities, joint ventures, and grass roots land assembly opportunities in accordance with the stated objectives set out by the Company.

Mr. Bennett is a seasoned senior oil and gas manager and an accomplished explorationist with many significant discoveries to his credit.

Bruce Thomson, President & CEO, states, "The biggest asset of any successful oil and gas company is the quality of its people."

About Premium Petroleum, Inc.

Premium is set to exploit petroleum and natural gas reserves in an environment of unprecedented commodity prices and under the guidance of a highly qualified management and technical team.

Premium 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, Joint Ventures (Farmin/Farmout), and Acquisitions. The Company has assembled a seasoned team of managers and technical professionals in the areas of geology, engineering, and legal (Petroleum Landman). With the depth of the management and technical team we have assembled, Premium is poised for aggressive asset growth and development.

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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