Teton Petroleum Announces Annual Meeting Results

Teton Petroleum Announces Annual Meeting Results 


DENVER, July 16  /PRNewswire-FirstCall/ -- Teton Petroleum Company ("Teton")
(AMEX:TPE), an independent oil and gas exploration and production company,
today announced the results of the Annual Meeting of Shareholders.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO )

A plurality of the outstanding voting stock of the Company voted in favor of
the reelection of each of the 5 directors; H. Howard Cooper, Karl F. Arleth,
James J. Woodcock, Thomas Conroy, and John T. Connor, Jr.  A majority of votes
cast at the Annual Meeting of Shareholders also voted in favor of the
ratification of the appointment of Ehrhardt Keefe Steiner & Hottman PC to audit
the financial statements of the Company and its subsidiaries for the year 2004.

Of the non routine proposals, a majority of votes cast at the Annual Meeting of
Shareholders voted in favor of the 2004 Non-Employee Stock Compensation Plan
and the issuance of common stock or securities convertible into or exercisable
for common stock.  A majority of the outstanding stock of the Company voted in
favor of the sale of the Company's indirect interest in Goloil.

"We believe the decision to sell Goloil was a decisive step, which was in the
best interests of our shareholders.  It now paves the way for Teton to redeploy
cash in order to affect new acquisitions and for future growth.  In the
interim, the transaction substantially strengthens our balance sheet," stated
Karl F. Arleth, President and CEO.

Further information on each of the proposals as well as the presentation from
today's Annual Meeting of Shareholders are available online at
http://www.tetonpetroleum.com/.

This news release may contain certain forward-looking statements, including
declarations regarding Teton and its subsidiary's expectations, intentions,
strategies and beliefs regarding the future.  All statements contained herein
are based upon information available to Teton's management as at the date
hereof and actual results may vary based upon future events, both within and
without the control of Teton's management. 

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DATASOURCE: Teton Petroleum Company



CONTACT:  Gillian Kane, Vice President, Investor Relations,

[phone], 



Web site:  http://www.tetonpetroleum.com/ 

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