Petro Resources Updates Newporte Drilling Status

HOUSTON, TX ("the Company") announced today that the E. M. Emmel # 10-3, the Company's first deep test well on the Newporte prospect located in Renville County, North Dakota, has reached total depth at approximately 9,566 feet. The well has been logged through total depth and was also conventionally cored through a portion of the primary objective sands. Production casing has been run to bottom and cemented in preparation for completion operations in the Deadwood Sandstone formation. The Company has a 25% working interest in the E. M. Emmel # 10-3 and in the Newporte prospect acreage.

The Company plans to provide further updates after the completion operations and production testing have been completed during the next several weeks.

About Petro Resources

Petro Resources Corporation is an independent exploration and production company engaged in acquisitions of exploratory leases, acquisitions of producing properties, secondary enhanced oil recovery projects, exploratory drilling, and production of oil and natural gas in the United States. For more information, please view our website at www.petroresourcescorp.com.

Forward-looking Statements

The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding the Company's expectations, beliefs, intentions or strategies regarding the future. Such forward-looking statements relate to, among other things: (1) the Company's proposed exploration and drilling operations on various other properties, (2) the expected production and revenue from the E. M. Emmel # 10-3 and its various other properties, and (3) estimates regarding the reserve potential of the E. M. Emmel # 10-3 and its various other properties. These statements are qualified by important factors that could cause the Company's actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company's ability to finance the continued exploration and drilling operations on its various properties, (2) positive confirmation of the reserves, production and operating expenses associated with its various properties; and (3) the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and Form 10-Q for the quarter ended March 31, 2008. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Contact: Brad Holmes Investor Relations (713) 654-4009 or Don Kirkendall President (832) 369-6986

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