VANCOUVER, British Columbia, April 25, 2005 (PRIMEZONE) -- Portrush Petroleum Corporation (TSX:PSH) (OTCBB:PRRPF) announced today that the company's Annual General Meeting will be held in Vancouver on Tuesday, May 31, 2005. Shareholders of record as of April 26th will be entitled to vote at the meeting. The meeting will be designated as a general and special meeting to enable the Company to comply with the requirements of the new British Columbia Corporations Act. The Company has completed a private placement financing of $390,000 through the issuance of 2,600,000 units at $0.15 per unit. Each unit consists of one share and one share purchase warrant. A finder's fee of $25,875 will be paid by issuing 172,500 units. The funds will be used for general working capital and exploration and development costs of the company's oil and gas projects.
The company has been advised by the operator of the North Kimball project that the gas well has been put on production. The Company has provided funding to put this well into production and has a 50% working interest in the project until payout at which time it reduces to a 5% working interest. The well is expected to produce approximately 200 mcf per day.
About Portrush Petroleum
Portrush Petroleum is a rapidly growing oil and natural gas exploration and production company focused on its core properties: the Lenox project, located in the Michigan Basin in the state of Michigan, the Mission River Development project, situated in Refugio and Goliad Counties, Gulf Coast, Texas and the Cranberry project, a large acreage Mississippian and Slave Point target located in Alberta.
Portrush is publicly traded on the TSX in Canada and on the bulletin board in the United States under the symbols: TSX: PSH, OTCBB: PRRPF.
Information on the company can be obtained by calling (800) 828 1866 or at www.portrushpetroleum.com The company relies on litigation protection for "forward looking statements".
ON BEHALF OF THE BOARD /s/ M.Cotter President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.