Petrol Oil and Gas, Inc.(fka POIG)

[MWM]

Leases from last 10Q

Petrol-Neodesha Project
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Our gas producing leases known as Petrol-Neodesha, in the
Neosho and Wilson counties, account for approximately 10,000 of the
Company's total of approximately 56,000 gross leased acres. However,
this project produces substantially all of the Company's gas
production.

The Petrol-Neodesha Project includes over 100 CBM production
wells, 8 saltwater disposal wells ("SWD Wells") wells and a fully
contained and integrated gas gathering pipeline and gas processing
system. At this time, we have suspended our development plan for the
Petrol-Neodesha Project and have discontinued lease acquisitions in
the area due a shortage of funds. The Petrol-Neodesha properties have
provided us with the bulk of our revenue stream and value in proven
producing reserves and therefore represent the most valuable group of
assets of the Company. However, if we do not resume development of
these properties, we expect to see revenues decline as existing wells
mature and experience production declines.

Coal Creek Project
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The Coal Creek Project, centered in Coffey County, Kansas,
includes leases covering about 46,000 gross acres. Leases for the Coal
Creek Project covering approximately 46,000 gross acres have recently
expired. The Company has invested approximately $15 million in the
Coal Creek Project for the construction of a gathering system and the
drilling and completion of over 50 CBM wells. Of these wells, only
four wells are producing natural gas, and only one of these is
producing CBM. Total production from these wells is minimal. Due to a
number of technical issues with the wells and the geology, it is
doubtful that significant production will ever be obtained from these
properties. The Company does not currently plan to drill any
additional CBM wells in the Coal Creek Project. The Company doubts
that the Coal Creek Project will at any time in the future contribute
to the Company's revenues to any significant extent. The Company is
currently evaluating whether there are exploration and development
opportunities for oil or conventional natural gas from the leases
acquired for the Coal Creek Project.

Oil Field Project
-----------------

Petrol holds a 100% working interest in several oil
producing properties in eastern Kansas that produced approximately
22,249 barrels of oil (bbl) during 2006 (17,954 bbl net to Petrol).
The oil producing wells on these properties and in the surrounding
areas are generally defined as stripper wells and usually produce
under the influence of a water flood. A part of the leases that
comprise this project were sold in September 2007. See Note 8 to the
Company's Condensed Financial Statements included herein.