Petrol Oil & Gas, Inc. [OTCBB: POIG] Coalbed Methane Production

NaturalGasStocks.com Features Source Capital Group, Inc. Research: Petrol Oil and Gas, Inc. (OTCBB: POIG)

POINT ROBERTS, WA - MARKET WIRE - 09/28/04

www.NaturalGasStocks.com, a global news investor portal for the natural gas sector, is pleased to provide investors the following report.

Source Capital Group, Inc. ("Source Capital") announced September 27, 2004, that it is reiterating its BUY recommendation and $6.00 price target for Petrol Oil and Gas, Inc. (OTC BB: POIG) ("Petrol" or the "Company"). Petrol is a participant in the rapidly expanding exploration, development and production of Coal Bed Methane ("CBM"), a direct addition to the domestic supply of natural gas.

"Petrol announced recently that it completed a private placement of equity with gross proceeds of $6.6 million which will allow the Company to begin to drill its leases in Eastern Kansas and Western Missouri," stated Joe Blankenship, vice president research of Source Capital. "Petrol has leases on approximately 165,000 acres in the area and has an objective to drill 25 wells in the fourth quarter of 2004. The ease of access for drilling and completion, as well as the proximity to major natural gas transmission lines means the Company should be able to have commercial production from these wells in the first part of next year," Mr. Blankenship continued.

"The Company's leases are on properties that have well defined geological records of substantial coal deposits, the source of CBM. Petrol indicates that they will continue to pursue property acquisitions for reserves and producing wells; however, the principal emphasis will be drilling, completion and production, transforming the Company to a significant production company by this time next year," continued Mr. Blankenship.

Petrol's stock (POIG - $1.90) is selling at 7.4 times our fiscal year 2006 estimate of $0.25 per share, giving it a price below the industry average.

Source Capital Group, Inc. Research: Petrol Oil and Gas, Inc. http://www.investorideas.com/Petrol_Oil_and_Gas/POIGMarch04.pdf

Our twelve-month price target for Petrol stock is $6.00.

Source Capital Group: Source Capital, headquartered in Westport, CT, provides high-quality independent investment services, removed from the typical Wall Street environment, to individuals and institutions.

For information, contact:

Joe Blankenship Vice President Research Source Capital Group, Inc. 7377 E. Doubletree Ranch Road, Suite 290 Scottsdale, AZ 85258 Phone: 480-368-1488 Fax: 480-368-1319 jblankenship@sourcegrp.com

NaturalGasStocks.com (NGS) does not make recommendations, but offers a unique information portal to investors to research news, articles, and recent research. NGS does not have a relationship with Source Capital. Our current list of natural gas stocks: http://www.naturalgasstocks.com/Companies/NaturalGas/Stock_List.asp

Petrol Corporate Profile: http://investorideas.com/Petrol_Oil_and_Gas/CorporateProfile.asp

ECON Investor Relations Inc. is a privately owned corporate communications company specializing in investor relations, media relations and research in public companies and industry sectors for the investment community. Nothing on the site should be construed as an offer or solicitation to buy or sell any specific products or securities.

Disclaimer: http://investorideas.com/About/

Petrol Oil and Gas, Inc. compensates ECON and NGS $four thousand dollars per month and six thousand per month in 144 shares featured Company on NaturalGasStocks.com.

Company Overview

Petrol is planning an aggressive drilling program in 2004-2005 once its current round of fundraising is completed. Its large 165,000 acre leasehold overlying the Cherokee group and other coal seams in southeastern Kansas and southwestern Missouri could support up to 1,700 producing gas wells. The flat terrain of eastern Kansas offers ease of access for rigs and other development activities. In addition, the shallow depths associated with the multiple coal seams being targeted means low drilling and production costs can provide the company with a competitive advantage.

Coal bed methane production in Kansas has been growing rapidly, to over 7 billion cubic feet, worth about $40 million, in 2003. This represents a 75% increase from the 2002 production of about 4 billion cubic feet, according to the Kansas Geological Society.

Safe Harbor Statement: The statements in this press release regarding any implied or perceived benefits of trading on the OTCBB, being an operating entity, maintaining mineral lease rights, drilling and testing exploratory wells, and any other effects resulting from trading on the OTCBB, and any other statements, which are not historical facts, are forward looking statements. Such statements involve risks and uncertainties, including, but not limited to, discovering producible minerals such as oil or gas, the testing results, costs, delays, and any other difficulties related to producing minerals such as oil or gas, financing, marketing and sales, 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. We undertake 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.