Petra Petroleum Inc. Announces the Grant of Stock Options

   Petra Petroleum Inc. (the "Company") (TSX VENTURE: PTL) is pleased to announce the grant of a total of 100,000 stock options to its Director, Finance & Administration which will vest after six months from the date of grant, at an exercise price of $0.43 each and will be exercisable for a period of five years from the date of grant.

The total number of options outstanding as of the date hereof is 3,790,000.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Petra Petroleum Inc. Robert A. Lambert Chief Executive Officer [phone] Petra Petroleum Inc. Michael Atkinson Chairman [phone] [phone] (FAX) www.petrapetro.com