Petrol Oil and Gas Announces a 57% Increase in Proved Reserves for 2005; Pre-Tax PV10 Analysis Indicates $53.4 Million in Estimated Future Net Revenues.

LAS VEGAS -- Petrol Oil and Gas, Inc. (OTCBB:POIG) announced today the results of an independent analysis of its oil and gas reserves for the year ended December 31, 2005. The reserve data was analyzed and reported on by McCune Engineering, an independent licensed petroleum engineering firm based in Baldwin City, Kansas.

Highlight's of Petrol's 2005 year end Reserve Report include:

--$53.4 Million Pre-Tax PV 10% for Proved Reserves 

--18.7% Increase in Pre-Tax PV 10% value during 2005

--15.87 Bcfe in Proved Reserves for year End 2005

--57.3% Increase in Proved Reserves during 2005

Petrol holds a 100% working interest (WI) and an average 80% Net Revenue Interest (NRI) in approximately 165,000 gross acres covering coal bed methane (CBM) and other oil and gas reserves located in eastern Kansas and western Missouri.

"Obviously we are pleased with the results of the 2005 year end independent reserve report, particularly the fact that our Proved Reserves increased by just over 57% to 15.87 Bcfe, which further demonstrates the potential of our properties," said Paul Branagan, Petrol's President and CEO. "Most of our Proved Reserves are currently located in our Petrol Neodesha Project, a 10,000 gross acre producing unit that contributed about 81% of our $6.04 Million in revenues for 2005. Although we intend to continue development of Petrol Neodesha, our focus for 2006 turns to proving up the large reserves in our other acreage, particularly our 92,000 acre Coal Creek project. We are very excited by our other prospects and the effect they will have on Petrol's Net Asset Value as we begin to produce and then prove up these new project areas."

As reported by Petrol, in December 2005, Petrol began the development of its 92,000-acre Coal Creek project by allocating approximately $10 million towards the completion of activities that now has roughly 46 new gas production wells, 3 saltwater disposal wells and two gas gathering pipeline systems being connected into the Enbridge Interstate sales pipeline. Management expects Petrol's proven reserves to develop rapidly as Coal Creek gas production comes on line and drilling activities continue.

About Petrol Oil and Gas, Inc.

Petrol Oil and Gas, Inc. is an oil and gas exploration and development company currently involved in the development of natural gas from leases encompassing approximately 165,000 gross acres in Kansas and Missouri. Its common stock is traded on the OTC Bulletin Board under the symbol "POIG".

Forward looking Statements:

The statements in this press release regarding any implied or perceived benefits from existing oil and gas field properties, actual reserves and revenues to be derived from the reserves, actual increase in PV 10% values, plans to drill additional oil and gas wells, anticipated revenues, the acquisition of additional oil or gas leases, maintaining mineral lease rights, Petrol's ability to increase its Net Asset Value, and any other effects resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, the continued production of gas at historical rates, costs of operations, delays, availability of adequate debt or equity financing, and any other difficulties related to producing minerals such as oil or gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements Petrol makes in this news release include market conditions and those set forth in reports or documents Petrol files from time to time with the SEC. Petrol undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

The reserve values stated in the McCune report are estimates and should not be interpreted as being exact quantities. They may or may not be actually recovered and the revenues stated in the report may be more or less than what will ultimately be recovered. While the reserve estimates presented in the report were believed reasonable at December 31, 2005, several factors may lead to a future revision of the reserve estimates presented in the report, including general economics, Petrol's operations and reservoir performance.