PWC has also confirmed that it has exercised its drilling option over the Cobble Cuesta anticline exploration prospect in Nevada and drilling on the structure is due to commence in late August, 2006. PWC has revised its original agreement which enabled it to earn a 50% interest in the block in return for paying 90% of the drilling costs and will now pay 45% of the drilling costs in return for a 30% equity in the asset.
Frank Inouye, PWC's CEO, is a qualified person as defined under the AIM rules and this announcement has been prepared under his supervision.
On behalf of PetroWorld Corp.
"Frank Inouye"
Chief Executive Officer & Director
For additional information, please visit our website,
www.petroworldcorp.com.
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