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WEBCAST ALERT: Parallel Petroleum Announces Management Presentation at IPAA Oil & Gas Investment Symposium in New York.

MIDLAND, Texas -- Parallel Petroleum Corporation (NASDAQ:PLLL) today announced that its President & CEO, Larry C. Oldham, and its Chief Operating Officer, Don Tiffin, will present at the IPAA Oil & Gas Investment Symposium New York (OGIS New York) on Monday, April 10, 2006, at 11:45 a.m. Eastern Time. The conference will be held at The Sheraton New York Hotel and Towers on Monday through Wednesday, April 10-12, 2006.

Parallel's OGIS New York presentation will be webcast, complete with slide show. The webcast and slide show may be accessed live on Monday, April 10, 2006, at 11:45 a.m. Eastern Time (10:45 a.m. Central Time), at Parallel's web site, http://www.plll.com, or at http://www.investorcalendar.com/CEPage.asp?ID=102938.

About the 2006 Oil and Gas Investment Symposium New York

The Independent Petroleum Association of America (IPAA), the national trade association for the independent oil and gas industry, is hosting the 2006 OGIS New York. IPAA describes the conference as follows, "The IPAA OGIS New York has become the premier outlet for publicly traded independent EXPLORATION AND PRODUCTION and SERVICE AND SUPPLY companies to present their company profiles to the investment community. Last year's Symposium attracted over 1,500 attendees, including more than 600 buy/sell-side analysts and portfolio managers and 80 presenting companies."

This year's attendees will hear 20-minute presentations from approximately 100 corporate executives followed by 30-minute breakout sessions. Additional time will be set aside for companies to hold one-on-one sessions with analysts. This event also provides analysts and investors with excellent opportunities to network with corporate executives during luncheons, receptions, and dinners. To learn more about the conference, visit IPAA's web site at http://www.ipaa.org.

About Parallel Petroleum Corporation

Parallel Petroleum is an independent energy company headquartered in Midland, Texas, engaged in the acquisition, exploration, development and production of oil and gas using 3-D seismic technology and advanced drilling, completion and recovery techniques. Parallel's primary areas of operation are the Permian Basin of West Texas and New Mexico, North Texas Barnett Shale, Onshore Gulf Coast of South Texas, East Texas and Utah/Colorado. Additional information on Parallel Petroleum Corporation is available at http://www.plll.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Apr 5, 2006
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