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[PowerPole]

PBLS NEWS IS OUT!

Phoenix Closes on Two Oil & Gas Companies
Tuesday October 18, 10:30 am ET

http://www.marketwire.com/mw/release_html_b1?release_id=98193


COVINGTON, LA--(MARKET WIRE)--Oct 18, 2005 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News), a holding company with assets in oil, sand & gravel, soil products, land development, trucking, contract hauling, swimming pool construction and construction-related industries, announced today that it has completed the purchase, for cash and stock, of the Kentucky-based corporations -- Mid-South Resources, Inc., and Rome Oil and Gas Company. Through this acquisition, Phoenix acquired interests in leases, equipment and oil production. This is the "flagship" acquisition for Phoenix's new Oil and Gas Division. Mr. John Barksdale, the seller of those companies, will run this division for Phoenix. Mr. Barksdale has over thirty (30) years of oil and gas experience and has drilling experience all over the United States.

Phoenix continues its efforts to add income and assets to further enhance shareholder value.

Forward-Looking Statements

This press release contains statements that are "forward looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.



Contact:
For More Information Contact:
Ron Blackburn
Phoenix
[phone]
Email Contact

Mike Mulshine
Osprey Partners
[phone]
Email Contact