Teton Petroleum Announces July 16 Annual Meeting

Teton Petroleum Announces July 16 Annual Meeting 


DENVER, June 14  /PRNewswire-FirstCall/ -- Teton Petroleum Company ("Teton")
(AMEX:TPE), an independent oil and gas exploration and production company,
today filed its Definitive Proxy Statement for its Annual Meeting of
Shareholders to be held on Friday, July 16, 2004.  The Annual Meeting will be
held at The Pinnacle Club, located at 555 17th St., Suite 3700, Denver, CO
80202 on July 16, 2004 at 9:30 AM (Mountain Time).  The Record Date for
determining the stockholders entitled to notice of and to vote at the Annual
Meeting will be the close of business on June 18, 2004.  At the meeting,
shareholders will be asked to vote on, among other things, a proposal to
approve the sale of the Company's indirect equity interest in the
Siberian-Texan Joint Stock Company Goloil ("Goloil") to the Open-Joint Stock
Oil and Gas Company RussNeft ("RussNeft"), the owner of the remaining interests
in Goloil.

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Each of the proposals for which approval is sought is addressed in detail in
the Proxy Statement.  Teton and its Directors will be soliciting proxies from
stockholders of Teton in favor of the proposed sale of Goloil.  Please read the
Proxy Statement carefully when you receive it because it contains important
information, including information regarding participants in the solicitation. 
The Proxy Statement will be mailed on June 23, 2004 to holders of record on
June 18, 2004.  The Proxy Statement and any other relevant documents can be
obtained without charge on the website of the Securities and Exchange
Commission at http://www.sec.gov/ or by directing a request to Ms. Gillian
Kane, Vice President, Investor Relations (970-870-1417) at the offices of
Teton.

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 of Teton

Petroleum Company, [phone], 



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

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