Petra Petroleum Inc. Provides an Update on Its Operating Strategy

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Petra Petroleum Inc. (TSX VENTURE:PTL) (the "Corporation") is pleased to
announce the formation of a strategic partnership with Beagle Geoscience Group. 


The Corporation has entered into a strategic partnership agreement with the
London-based Beagle Geoscience Group, an international oil and gas exploration
services company, to provide specialist G&G evaluation services to the expanding
exploration and new ventures needs of the Corporation. Under this strategic
partnership agreement, Petra will secure access to an excellent integrated
exploration team including technical and operations office facilities and data
management.


Beagle is an exploration geoscience group with extensive international
exploration, operations and new ventures experience. The multi-disciplinary G&G
team provides a full range of exploration expertise with specific experience
exploring in areas with complex geological challenges, such as frontier basins
and under-explored petroleum basins.


Commenting on the appointment of Beagle, Petra's CEO Bob Lambert said: 'We value
highly our relationship with Beagle's team of geoscientists who bring
considerable experience and cost effective technical resources to complement our
existing management team. Beagle's impact on our new ventures activities has
already been significant and we look forward to further success in the future.'


Mark Sawyers, Beagle's Managing Director commented: 'We are excited to be
entering into this strategic partnership with Petra Petroleum. We look forward
to working with them over the long term to add value to their existing
exploration portfolio and accelerate the expansion of the Company in Europe,
Africa and the Middle East, which are areas where we have considerable
experience.'


Cautionary Statements

This news release contains "forward-looking statements" within the meaning of
applicable securities laws. Readers are cautioned to not place undue reliance on
forward-looking statements. Actual results and developments, including whether
or not the Corporation is successful in obtaining exploration licences may
differ materially from those contemplated by these statements. The
forward-looking statements in this press release are made as of the date of this
release and the Corporation undertakes no obligation to update publicly or
revise any forward-looking statements whether as a result of new information or
otherwise, except as required by applicable securities laws. The Corporation
undertakes no obligation to comment on analyses, expectations or statements made
by third-parties in respect of the Corporation or its financial or operating
results or (as applicable) their securities.


The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Petra Petroleum Inc.
Robert A. Lambert
President & Chief Executive Officer
[e-mail]