Inland Resources Inc. Announces the Sale of Refinery Assets.

DENVER--(BUSINESS WIRE)--Dec. 16, 1999--

Inland Resources Inc. (OTCBB: INLND, INLN) announced that a letter of intent has been entered into between Big West Oil, LLC ("Big West") and Inland Refining, Inc. ("Inland") for the sale of Inland's refinery and related refining assets at its Woods Cross Utah Refinery.

The letter of intent, dated December 9, 1999, is non-binding and contingent upon satisfactory due diligence being completed by Big West of the Woods Cross refining assets. The letter of intent is also contingent upon mutually satisfactory definitive agreements being negotiated between Big West and Inland. Both the Big West and Inland Board of Directors must also approve the definitive agreements.