Inland Resources Inc. Announces Year 2001 Results.

Business Editors

DENVER--(BUSINESS WIRE)--April 1, 2002

Inland Resources Inc. (OTCBB: INLN) ("Inland") today reported results for year 2001.

Oil and gas revenues increased to $31.5 million and earnings before interest, taxes, depreciation and amortization ("EBITDA") rose to $20.6 million, increases of $3 million and $2.4 million from the prior 2000 year. Net loss for year 2001 was $(6.0) million compared to net income of $1.9 million for the same period in 2000. The net loss of $(6.0) million in 2001 included a non-cash loss of $5.5 million related to Company's derivative contracts with Enron North America Corp. ("ENAC"). ENAC filed for Chapter 11 bankruptcy on December 2, 2001. After considering preferred stock adjustments, the basic and diluted net loss for year 2001 was $1.40 per share based on 2.9 million shares outstanding. The basic and diluted net loss for 2000 was $5.71 per share (including a loss of $0.09 per share related to discontinued operations) based on 2.9 million shares outstanding.

Inland Resources is an oil and gas producer with operations in the Monument Butte Field in northeast Utah. Inland operates over 707 wells and has approximately 103,000 net acres of leasehold, including 23 approved secondary recovery projects. In 2001, the Company drilled 45 (35 net) wells (1 dry hole) and converted 33 (26 net) wells to water injection to continue its secondary recovery operations. Crude oil comprised 78% of product sales (natural gas comprised the balance of product sales). In 2002, the Company plans to drill 25 wells (20 net wells), complete 25 workovers or recompletion wells and convert 35 producing wells to water injection. The 2002 capital budget for development of the Field is to be $10 million to $12 million, net to the Company.

Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2001.