TPE Teton Petroleum New

Teton Petroleum Voted 'Best Foreign Company' in Russian Oil Sector DENVER, March 23 /PRNewswire-FirstCall/ -- Teton Petroleum Company ("Teton") , an independent oil and gas exploration and production company active in Russia, has been named Russia's"Foreign Company of the Year". (Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO ) The award was presented Friday, March 19, 2004, by the Moscow International Oil and Gas Club and RusEnergy.com at the Monolith Club in Moscow. This is the third consecutive year that this ceremony has recognized companies for their outstanding achievement within the Russian oil and gas sector. The award panel consisted of 18 of the Russian community's leading academic and business representatives. Other award winners included domestic oil and gas majors Lukoil for "Company of the Year", Stroitransgaz "US-Russian Relations Award", and PetroAlliance as "Most Dynamically Developing Independent Oil Company". H. Howard Cooper, Teton's Chairman and Founder, commented: "We are honored to receive this prestigious award and to be recognized alongside such exceptional companies. We look forward to many more years of successful business in Russia." About Teton Petroleum Company: Denver-based Teton Petroleum Company (AMEX:TPE) is the only publicly traded U.S. oil and gas exploration and production company with all of its producing assets in Russia. The company is currently developing three oil fields at its Goloil license in Western Siberia. The company has been producing and exporting oil from Russia since 1998. This news release may contain certain forward-looking statements, including declarations regarding Teton and its subsidiary's expectations, intentions, strategies and beliefs regardingthe 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. For Further Information, Please Contact: Gillian Kane, Vice President, Investor Relations (970) 870-1417 http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO http://photoarchive.ap.org/ DATASOURCE: Teton Petroleum Company CONTACT: Gillian Kane,Vice President, Investor Relations of Teton Petroleum Company, +1-970-870-1417, Web site: http://www.tetonpetroleum.com/

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