Petroleum News Profiles Altus Explorations Inc.

OLIVE BRANCH, Miss. -- Altus Explorations Inc. (the "Company" or "Altus") (OTCBB:ATUX) announces that oil and gas publication Petroleum News has published a profile on Altus in its July 25, 2004, issue. The article features the Company's 100% working interest in the North Alexander Prospect in the Cook Inlet Basin, Alaska. This area lies along the western margin of the Sustina River drainage. The property is just southeast of the Castle Mountain Fault, 6 to 10 miles north of the Stump Lake gas field, and 6 to 9 miles east of the Lewis River gas field, both of which have established prolific gas production. The principal objectives are the Beluga and Tyonek reservoirs which are made up of sandstones, siltstones, and pebble conglomerates. A secondary objective is the shallower Sterling sandstones. These formations represent major gas production zones in the Cook Inlet Basin and nearby gas fields. Estimated recoverable natural gas reserves from the first two objectives are expected to total 395.5 billion cubic feet. Permit applications are expected to be filed in August 2004 with drilling to commence in early 2005.

Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the major gas production zones in the formations, the recoverable natural gas reserves estimated, and that drilling will actually commence in early 2005.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with oil and gas exploration. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2003 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.