TriOil Ltd.

TriOil Ltd.

March 21, 2005 06:00 ET

TriOil Ltd.: Operations Update


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRIOIL LTD.

TSX VENTURE SYMBOL: TRY

MARCH 21, 2005 - 06:00 ET

TriOil Ltd.: Operations Update

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - TriOil Ltd. (TSX
VENTURE:TRY) is pleased to provide an update on operations for the first
quarter of 2005.

In Medicine Hat, TriOil participated in two deep gas tests (50% W.I.),
resulting in two successful gas wells. Both wells are currently being
tied into T riOil's 50% owned compressor station. The Company has
recently acquired approximately 50 kilometers of seismic data to support
TriOil's ongoing exploration program in this core area.

TriOil is participating in the drilling of four gas wells in Central
Alberta (average 30% W.I.). Drilling operations are underway for the
first location. The next three wells will be drilled once the locations
become accessible, which will likely occur in the second quarter.

In Bigstone, a well drilled in late 2004 (25% W.I.) has been tied in and
is on production. A second well (25% W.I.), previously completed in
2003, is expected to be on production in April 2005, subject to an AEUB
downspacing approval.

Current total sales production is approximately 330 BOE/day (based on a
conversion of six thousand cubic feet of gas to one barrel of oil) net
to TriOil.

TriOil's Board of Directors is pleased to announce, subject to
regulatory approval, the appointment of J. Grant Evaskevich as Chief
Financial Officer. Mr. Evaskevich holds a Bachelor of Management
(Finance) degree from the University of Lethbridge and has been with
TriOil since June 2004.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    TriOil Ltd.
    Joe Dutton
    President
    (403) 265-5663
    (403) 265-5603 (FAX)
    Website: www.trioil.ca
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.