Eagle Oil Holding Company Inc. (EGOH:OTC) enters in to discussions to sell its Leases

Eagle Oil Holding Company has entered in to discussions to
sell its two

leases, namely, the Frank Farm and Morrison lease. The discussions were

unsolicited. Simultaneously with the sale, Eagle Oil will purchase a net

revenue interest in a producing oil lease as well as enter into another

joint venture shortly thereafter.

Connie Helwig states the following, "The unsolicited interest in our two

leases highlights their value. We have entered the beginning stages of

discussions and, if this is fruitful, we will acquire a small net revenue

interest of a producing lease that will not require any additional capital.

The joint venture that we enter into, however, will need some additional

monies. Eagle Oil wants to continue to have a presence in Venango
County,

Pennsylvania."

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.