HOUSTON, TX--(MARKET WIRE)--Sep 22, 2008 -- Petro Resources Corporation (PRC - News) ("the Company") announced today that it is participating in a series of wells to be drilled in the East Texas Bossier trend operated by Goodrich Petroleum Corporation.

The prospect, located in Nacogdoches County, Texas, is known as the "Surprise Prospect" area and may encompass as much as 6,000 net acres. Four drilling units have been formed for initial testing of the prospect area.

The Company has an initial position of 5% working interest in the prospect area. The target objectives include the expanded Bossier Shale, the Upper and Lower Cotton Valley Taylor Sands and the blanket Travis Peak Sand. Secondary objectives include the Haynesville Shale, Knowles Lime, James Lime, Pettit Sand and the Rodessa Shale.

This area offers multiple prospects within the large prospect area. 3D seismic has identified two down to the south arcuate growth faults that might trap multiple expanded horizons in the Jurassic and Lower Cretaceous sediments.

Initial drilling operations have commenced and it is anticipated to have the first well drilled and logged within a few 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 its various properties, (2) the expected production and revenue from its various properties, and (3) estimates regarding the reserve potential of its various 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 quarters ended March 31, 2008 and June 30, 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
      
     Don Kirkendall
     President
     (832) 369-6986