CALGARY, March 3 /PRNewswire-FirstCall/ - Patch International Inc. (PAII:
OTCBB), is pleased to announce that negotiations on a new oil and gas project
in the world-class region of Alberta, Canada are ongoing. Additional meetings
are scheduled for today and Friday to complete the data review and due
diligence. A decision on this prospect is expected to be completed over the
next few days with an announcement to follow early next week.
    David Stadnyk, President of PAII, stated "The negotiations are moving
forward in a positive direction. We are confident that a deal will be put in
place. This is the kind of project that could help build the company and move
it closer to its goal of becoming a mid range oil and gas producer. When you
look at oil prices currently over $53 US, this is a great time to be adding
new oil and gas assets to our growing company. PAII is still trading at less
than half the current asset value and we feel that the marketing program is
helping to get the company's story out. This marketing program has just
commenced and the majority of the program will take place over the next few
months as the news and results from the company's corporate activities are
made public. When you consider that the current market capitalization of PAII
is just under $4 million US and the assets currently in the company are valued
at $10 million US, we feel that a targeted marketing campaign should bring
PAII's value in line with at least the current underlying asset value. This
is an exciting time for PAII shareholders and we are looking forward to a
tremendous year of growth."

    PAII is a junior oil and gas producer that currently earns oil revenue
from 19 oil wells. These wells produce a total of approximately 150-200
barrels of oil per day which provides the company with both short-term and
long-term cash flow. It is anticipated that these wells will have a life of
over 15 years. PAII has properties in Canada, the US and has made significant
progress on oil and gas opportunities in Algeria, Libya, and Tunisia. PAII has
a significant investment in a pharmaceutical company that is currently worth
over $10 million US to PAII. The company plans to use the proceeds from this
investment to build its oil and gas assets.

    For further information visit our corporate website at
http://www.patchenergy.com.

    Contact:
    Investor Relations
    Tel: 888-864-7372
    Fax: 604-688-5390
    Email: info@patchenergy.com

    The Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements made on behalf of the Company. All such
forward-looking statements are, by necessity, only estimates of future results
and actual results achieved by Patch International Inc. may differ materially
from these statements due to a number of factors. Patch International Inc.
assumes no obligation to update these forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors affecting
such statements. You should independently investigate and fully understand all
risks before you make investment decisions.

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