DALLAS, March 11, 2003 (PRIMEZONE) -- Powder River Basin Gas Corp. (OTCBB:PRVB) reports a correction to the news release issued on March 11, 2003, "Imperial Petroleum, Inc. Signs Agreement to Acquire Control of Powder River Basin Gas Corp."
The first paragraph should have read, "Powder River Basin Gas Corp. (OTCBB:PRVB) announced today that it has signed a definitive agreement to have a majority percent of its capital stock and management control acquired by Imperial Petroleum, Inc. (OTCBB:IPTM). Closing is scheduled for April 1, 2003."
About Powder River Basin Gas Corp.
Powder River Basin Gas Corp. is an exploration, development and production company historically engaged in the evaluation and development of coal-bed methane ("CBM") reserves as well as shallow oil reserves within the Powder River Basin in Wyoming. The Company's current focus is to find undervalued proven properties in the Rocky Mountains, New Mexico and West Texas with long life reserves and price stability.
About Imperial Petroleum, Inc.
Imperial, through its subsidiaries and affiliates, is active in crude oil and natural gas production, gold and platinum mining. Imperial is presently the largest shareholder and manages the business of Warrior Resources, Inc. (Pink Sheets symbol ... CMCY), the parent company of Double Eagle Petroleum Corp. which operates some 28 oil and gas wells in Texas and Mississippi capable of producing approximately 2,200 mcf per day and 80 bopd in net production.
Imperial is headquartered in Evansville, IN.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.