PetroCorp Group Inc. Announces Completion of Private Placement

PetroCorp Group Inc. (TSX VENTURE:PCG.H) (the "Corporation") announces today
that it has completed its previously announced non-brokered private placement of
up to 10,000,000 common shares of the Corporation (the "Common Shares") at a
price of $0.005 per share for aggregate gross proceeds of up to $50,000 (the
"Offering"). The Corporation issued 10,000,000 Common Shares for gross proceeds
of $50,000.


The proceeds of the Offering will be used for the following purposes:



Use of Proceeds             Amount                                          
                                                                            
Listing/Sedar/TSX & ASC     $5,000                                          
                                                                            
Legal Fees                  $5,000                                          
                                                                            
Audit Fees                  $10,000                                         
                                                                            
Rent & Accounting/CFO       $9,000                                          
                                                                            
AGM Circular & Mailing      $10,000                                         
                                                                            
Transfer Agent Fees         $6,000                                          
                                                                            
G&A                         $5,000                                          
                                                                            
Total                       $50,000                                         



Completion of the Offering has been approved by the board of directors of the
Corporation and is subject to regulatory approval including, but not limited to,
the approval of the NEX board of the TSX Venture Exchange Inc. The Common Shares
issued are subject to a four month hold period from the date of issuance
pursuant to securities legislation.


Neither the NEX, nor its Regulatory Services Provider (as that term is defined
in the policies of the NEX) accepts responsibility for the adequacy or accuracy
of this release.


This news release may contain certain forward-looking information and
statements, including without limitation, statements pertaining to obtaining
necessary approvals from the TSX Venture Exchange. All statements included
herein, other than statements of historical fact, are forward-looking
information and such information involves various risks and uncertainties. There
can be no assurance that such information will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
information. The Corporation does not undertake to update any forward-looking
information except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
PetroCorp Group Inc.
Andrew Lindzon
[phone]
[e-mail]