Premium Petroleum, Inc. Adds Senior Petroleum Engineer to its Management Team

Premium Petroleum, Inc. (PINK SHEETS:PPTL) is pleased 
to announce the appointment of E.P. (Ted) Webb, P.Eng., as Vice 
President Engineering, and also as Advisory Board member. 

   With over 40 years of domestic and international engineering
experience in the oil patch, including 33 years of consulting to
private and public companies, Mr. Webb brings significant depth to
Premium's management's team.

   Mr. Webb has gained in-depth, comprehensive experience during his 
eleven (11) years employed by a large multi-national oil company and 
two Canadian independents. As well, Mr. Webb has accumulated over 
thirty (33) years experience delivering high level, senior consulting 
expertise, both domestically and internationally, to private and 
public companies, governments, and institutions.

   Mr. Webb's practical experience has encompassed field production 
engineering, joint venture unitization, technical and operating 
committee duties. Mr. Webb has made many presentations over the years 
to all three western provincial regulatory authorities, as well as 
before the major securities commissions in both Canada and the United 
States. Mr. Webb has gained many years of consulting expertise doing 
reservoir and production appraisals throughout Canada, the United 
States, Europe, North Africa, Indonesia and the North Sea. 

   In addition, Mr. Webb has conducted numerous reservoir and 
economic appraisal seminars in Canada, United States, United Kingdom, 
Germany, Albania, Turkey and Vietnam. These seminars were conducted 
for C.A.P.L., United Nations, BHP Energy, Indian Oil and Gas and the 
Canadian Economic Development Agency. Mr. Webb is a Registered 
Professional Engineer in the Provinces of Alberta, British Columbia 
and Saskatchewan, Canada.

   The Company will be looking to Mr. Web to source and provide 
economic evaluation to quality exploration and development projects, 
acquisition opportunities, joint ventures, and grass roots land 
assembly opportunities in accordance with the stated objectives set 
out by the Company. 

   Bruce Thomson, President & CEO, states, "The biggest asset of any 
successful oil and gas company is the quality of its people." 

   See www.premiumpetroleum.com for more details.

   About Premium Petroleum, Inc. 

   Premium is set to exploit petroleum and natural gas reserves in 
an environment of unprecedented commodity prices and under the 
guidance of a highly qualified management and technical team.

   Premium is an emerging junior oil and gas company financially 
well connected, coupled with a strong management and technical team 
focused on exploiting oil and gas reserves in the Western Canadian 
Sedimentary basin to 6000 feet in depth. Management intends to pursue 
a growth strategy through Land Assembly, Joint Ventures (Farmin / 
Farmout), and Acquisitions. The Company has assembled a seasoned team 
of managers and technical professionals in the areas of geology, 
engineering, and legal. With the depth of the management and 
technical team we have assembled, Premium is poised for aggressive 
asset growth and development.

   For more detail about the company, its management, and projects, 
please refer to our web site: www.premiumpetroleum.com. 

   This news release may contain forward-looking statements within 
the meaning of Section 27A of the Securities Act of 1933, as amended, 
and Section 21E of the Securities Act of 1934, as amended; such 
statements are subject to risks and uncertainties that could cause 
actual results to vary materially from those projected in the 
forward-looking statements. The Company may experience significant 
fluctuations in operating results due to a number of economic, 
competitive and other factors. These factors could cause operations 
to vary significantly from those in prior periods, and those 
projected in forward-looking statements. Information with respect to 
these factors, which could materially affect the Company and its 
operations, are included on certain forms the Company files with the 
Securities and Exchange Commission. 

   Premium Petroleum Inc. (PINK SHEETS:PPTL)