| **Press      Release
Source:      Petrol Oil and Gas Inc.**PetrolOil and Gas Appoints Seasoned Oil and Gas CPA to the CFO Post as the CompanyBegins Commercialization of Its CBM Reserves

MondayAugust 2, 1:59 pm ET
 

LASVEGAS--(BUSINESS WIRE)--Aug. 2, 2004--Petrol Oil and Gas Inc. (OTCBB: POIG -News**;** the "company") is pleased to announce the appointment ofJohn C. Garrison, CPA, as its new chief financial officer (CFO).

 

Garrisonis a financial consultant and director of several public companies includingQuest Resources Corp., another major player in Coal Bed Methane (CBM)exploration and development in Kansas and Infinity Inc., an E&P and oilservices provider in Kansas and Oklahoma. As part of his duties, Garrison hasbeen responsible for oversight of all SEC filing and reporting requirements, andhe will now be assisting Petrol in this regard.

 

Garrisonis the newest outstanding addition to Petrol's management team as the companyprepares for the commercialization of Coal Bed Methane (CBM) production from itsCoal Creek Project. (See release dated July 21, 2004)

 

Petrol'sPresident Paul Branagan is an experimental physicist who has worked over 30years in the evaluation, stimulation and development of unconventional gasresources including CBM. In 1993, he founded Branagan & Associates, anengineering firm specializing in oil and gas consulting which supported avariety of clients including the Department of Energy, Gas Research Institute,Sandia National Labs, Los Alamos Scientific Laboratories, Barrett Resources,Conoco, Williams Production, Mobil, CNPC in mainland China and many others.

 

Of hiscareer, Branagan said, "We brought a lot of new technology into the oil andgas industry to help everyone understand the complexities associated withunconventional reservoirs like CBM and also provide them with practical methodsand the best completion practices to bring these enormous untapped reserves tocommercialization."

 

AidingPetrol in its geologic understanding of its Kansas and Missouri base ofoperations is Bill Stoeckinger, a consulting certified petroleum geologist with40 years experience in oil and gas exploration and development. He is an expertin subsurface studies of mature basins with special emphasis on shallow gas andCBM targets. Stoeckinger has identified hundreds of drillable prospectsthroughout Kansas and Oklahoma over the last 15 years resulting in significantdiscoveries of shallow gas.

 

Roundingout the management team is Gary K. Bridwell, who has over 30 years of oil andgas field operations and management experience in Kansas and neighboring states.Bridwell manages POIG's field operations with his experience in well drilling,completion, testing, operations and overall field supervision, as well as theinstallation and maintenance of surface facilities such as gas treatment,compressors and pipelines.

 

CompanyObjectives

 

Petrolis planning an aggressive drilling program for 2004-2005 as funds are raised.Its large 165,000-acre leasehold overlying the Cherokee group of coal seams insoutheastern Kansas and southwestern Missouri could support up to 1,700producing gas wells. The flat terrain of eastern Kansas offers ease of accessfor rigs and other development activities, and the shallow depths associatedwith the multiple coal seams being targeted means low drilling and productioncosts can provide the company with a competitive advantage.

 

TheCherokee group is part of the Western Interior basin which is one of the largestCBM basins in the continental United States. According to the United StatesGeologic Society (USGS), CBM accounted for about 7.5 percent of U.S. annualnatural gas production and their most recent estimates indicate more than 700trillion cubic feet (TCF) of coal bed methane gas in place, with over 100 TCFeconomically recoverable (USGS:http://energy.cr.usgs.gov/oilgas/cbmethane/index.htm).

 

Technical-,corporate- and investor-related information can be found on the Petrol Web siteat www.petroloilandgas.com.

 

Forward-LookingStatement: The statements in this press release regarding any implied orperceived benefits resulting from the experience, stated or implied capabilitiesof its management team, and any other effects resulting from any of the aboveare forward-looking statements. Such statements regarding the real or impliedability of the company to improve its production, assets, or the economiccommercialization of any of the above involve risks and uncertainties,including, but not limited to, discovering producible minerals such as oil orgas, the value of testing results, costs, delays, and any other difficultiesrelated to producing minerals such as oil or gas, continued maintenance ofleasing agreements, financing, marketing and sales, risks and effects of legaland administrative proceedings and governmental regulation, future financial andoperational results, competition, general economic conditions, and the abilityto manage and continue growth.

 

Shouldone or more of these risks or uncertainties materialize, or should underlyingassumptions prove incorrect, actual outcomes may vary materially from thoseindicated or implied. Important factors that could cause actual results todiffer materially from the forward-looking statements we make in this newsrelease include market conditions and those set forth in reports or documents wefile from time to time with the SEC. We undertake no obligation to revise orupdate such statements to reflect current events or circumstances after the datehereof or to reflect the occurrence of unanticipated events.

 

PetrolOil and Gas Inc. is quoted on the OTC Bulletin Board as "POIG."

 

Copyright(C) 2004 Petrol Oil and Gas Inc. All Rights Reserved.

 

ForInvestor Information Contact:

PetrolOil and Gas Inc. http://www.petroloilandgas.com/

3161 E.Warm Springs Road, Ste. #300

LasVegas, NV 89120

702-454-7318

 

Forfull details, click here:http://www.investorideas.com/Petrol_Oil_and_Gas/NewsReleases.asp.

 
*Contact:

ECONCorporate Services (Investor and Media Relations)

DawnVan Zant, 866-354-5197

dvanzant@investorideas.com

TrevorRuehs, 866-354-5197

truehs@investorideas.com

 

Source:Petrol Oil and Gas Inc.***** |
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