Titan Oil and Gas, Inc.
PINK SHEETS : TNOG

Titan Oil and Gas, Inc.

July 01, 2005 12:42 ET

Titan Oil and Gas, Inc.-Kosciusko #1 Well in Production

SAN ANTONIO, TEXAS--(CCNMatthews - July 1, 2005) - Titan Oil and Gas, Inc. (TNOG:OTC) reports that work on its Kosciusko #1 Well was completed yesterday and it is producing oil.

Titan CEO Kent Jacobson reports: "Initial flow results are very strong. There has been extreme heat and humidity at the property, with one worker needing medical attention for heat stroke on Monday. Though shorthanded, the crew completed work to bring the well into production yesterday. The well flowed for several hours and was shut in overnight as a precaution. It is again flowing strongly today and we hope to have it flowing continuously from this point forward."

Jacobson further comments: "We are extremely pleased with the initial results from this well. An initial production report will be issued after the weekend."

Stanley #1B Well Update:

After the tubing repair, for the first four days the Stanley #1B well unloaded salt water which had been used previously to control very high pressures and prevent a blowout. On the last day, appx. 25 barrels of oil were produced before the pump stopped flowing due to what is suspected to be another leak in the tubing. A rig has been ordered, and the entire string of production tubing will be replaced, which we hope will eliminate this problem.

About Titan Oil and Gas, Inc. - Titan is an energy company engaged in oil and gas development, drilling and production. Titan follows a conservative business model, redeveloping oil and gas fields with a history of production, while expanding into exploration and development of new properties.

Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.

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