Premium Petroleum, Inc. Completes Seismic Shoot-Data Being Processed on Boyne Lake Project

   Company expects to report Seismic interpretation results within a
few days.

   Premium Petroleum Inc. (PINK SHEETS:PPTL) has engaged the well
respected contracting firm of Boyd Exploration Consultants Ltd to
conduct the shooting of its recently designed seismic program and is
pleased to announce that the shoot has been completed and the data is
now being processed. Interpretation results will be available within a
few days.

   The seismic program is comprised of three seismic lines for a
total of 8.6 km. The lines will tie in the neighbor's successfully
tested well (3.4 mmcf/day AOF - absolute open flow) three quarters of
a mile NW of our property and in addition will also incorporate parts
of two neighboring sections along with the Company owned section.

   The objective of the seismic program is to create a picture of the
geologic structure, which will assist in determining the optimum drill
location.

   Bruce A. Thomson, B.A.Sc.; President & CEO, states "the power of
seismic is that it raises the probability of success - in this case
from an estimated 35% to an estimated 70% plus".

   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 PPTL has
assembled, PPTL 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)