TPE Teton Petroleum New

Teton Petroleum Opens Moscow Office DENVER, Colorado, March 3 /PRNewswire/ -- Will Also Chair SRI Conference & Host Breakfast at the Howard Weil Energy Conference Teton Petroleum Company ("Teton") (Amex: TPE), an independent oil and gas exploration and production company active in Russia, today announced that it has opened an independent representative office in Moscow. The new office will coordinate Teton's operating and financial activities in Russia and will facilitate the Company's initiative to acquire proven oil fields in the region. (Logo: http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO ) H. Howard Cooper, Chairman and Founder of Teton Petroleum, stated, "The opening of our Moscow office is an important step forward as it will facilitate Teton's strategic goal to increase reserves and production. This new Moscow base will put us close to the growing deal flow for attractive Russian oil properties. Together, our experienced management team, strong balance sheet, and local independent office give us a strong foundation for moving forward with our growth strategy." Teton also announced an acceptance to chair Strategic Research Institute's Russian Oil & Gas Investment and Opportunity conference for the second year in a row. Teton President and CEO Karl Arleth will lead the overview discussions on the Russian oil & gas industry with several other industry leaders at the SRI conference, which will be held at the JW Marriott in Houston, TX on March 29-30, 2004. Concurrently, Chairman and Founder H. Howard Cooper will attend the Howard Weil 32nd Annual Energy Conference in New Orleans, LA on March 28-April 1, 2004. Mr. Cooper will host a breakfast table at the conference on Tuesday, March30 at 7:00AM. About Teton Petroleum Denver-based Teton is the only publicly traded U.S. oil and gas exploration and production company with all of its producing assets in Russia, where it has been producing and exporting oil in Russia since 1998. Teton is currently developing three oil fields in Western Siberia, located ten miles north of Samotlor, the largest oil field in Russia and seventh largest oil field in the world. Teton has positioned itself to grow rapidly by acquiring and developing oil fields in Western Siberia, where geologic risks are low, acquisition costs are currently favourable and the long-term outlook is excellent. This Press Release may contain certain forward-looking statements, including declarations regarding Teton and its subsidiary's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Teton's management as at the date hereof and actual results may vary based upon future events, both within and without the control of the Teton's management. The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We disclose information concerning "probable reserves" and "possible reserves" in this press release. The SEC guidelines would strictly prohibit us from including this information in filings with the SEC. Investors are urged to consider closely the disclosure in our Form 10-KSB filed with the SEC on March 31, 2003, copies of which are available from us upon written request addressed to Teton Petroleum Company, 1600 Broadway, Suite 2400, Denver, CO 80202-4921. This form can also be obtained from our website www.tetonpetroleum.com or the SEC's web site at www.sec.gov. For more information, contact: Gillian Kane, VP, Investor Relations Teton Petroleum Company Phone: +1-970-870-1417 gillian@tetonpetroleum.com DENVER, Colorado, March 3 /PRNewswire/ -- Web site: http://www.tetonpetroleum.com DATASOURCE: Teton Petroleum Company CONTACT: Gillian Kane, VP, Investor Relations of Teton Petroleum Company, +1-970-870-1417, gillian@tetonpetroleum.com, Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO, AP Archive: http://photoarchive.ap.org, PRN Photo Desk, photodesk@prnewswire.com

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