Powder River Contests Actions Regarding Lawsuit Filed Tuesday July 15, 5:21 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Jul 15, 2008 -- Powder River Petroleum International Inc. (OTC BB:PWDR.OB - News), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today received copies of a petition filed in Tulsa County, Oklahoma District Court, which alleges various securities and other violations against the Company and Brian Fox, President. The Court issued a Temporary Restraining Order requiring the maintenance of the status quo until a hearing on Wednesday, July 23, 2008 at 9:30AM. The Court also appointed a receiver to insure that the status quo is maintained until the results of that hearing.
The Company is seeking litigation counsel to assist in reviewing and responding to the complaint. At this time, the Company intends to vigorously contest the allegations.
Powder River Petroleum International Inc. is active in production, acquisition, and marketing of crude oil and natural gas properties.
Powder River Petroleum International Inc. trades on the OTCBB under the symbol PWDR.
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 are reasonable, there can be no assurance that such expectations will prove to be correct.
Contact: Contacts: Powder River Petroleum International Inc. Steve Weiss Investor Relations (609) 529-3671 Email: info@powderrivergascorp.com Website: http://www.powderriverpetroleum.com
Princeton Research Inc. Mike King Market Analyst (702) 650-3000
-------------------------------------------------------------------------------- Source: Powder River Petroleum International Inc.
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