Eagle Oil Holding Company Inc. (EGOH:OTC) purchases the Morrison Lease

Connie Helwig, sole director of Eagle Oil Holding Company
Inc., is pleased to announce that the Morrison lease has been purchased
by Eagle Oil from Drake Gold Resources Inc. (DKGR:OTC) in exchange for a
convertible note.

This large lease located in Venango County, Pennsylvania
consists of 396 acres with 60 wells. The Net Revenue Interest is 87.5%. Monies
have been wired to the operator to get a complete analysis of this lease
as well as our previously acquired Frank Farm lease.

Ms. Helwig states the following, "this new acquisition gives Eagle Oil a
significant presence in Venango County, PA.
We intend to develop the lease by reworking the existing wells and drilling for
new wells."

Further updates will be forthcoming.

Forward- Looking
Statements

Safe Harbor Statement: This press release contains
forward-looking statements that reflect the Company's current expectation
regarding future events. Actual events could differ materially and
substantially from those projected herein and depend on a number of factors.
Certain statements in this release, and other written or oral statements made
by Eagle Oil Holding Co. are ?forward-looking statements? within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond the Company's control and which could,
and likely will, materially affect actual results, levels of activity,
performance or achievements. The Company assumes no obligation to publicly
update or revise these forward-looking statements for any reason, or to update
the reasons actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes available in
the future. Important factors that could cause actual results to differ
materially from the Company's expectations include, but are not limited to,
those factors that are disclosed under the heading "Risk Factors" and
elsewhere in documents filed by the Company from time to time with the United
States Securities and Exchange Commission.