TPE Teton Petroleum New

Teton Petroleum Announces July 16 Annual Meeting DENVER, June 14 /PRNewswire-FirstCall/ -- Teton Petroleum Company ("Teton") (AMEX:TPE), an independent oil and gas exploration and production company, today filed its Definitive Proxy Statement for its Annual Meeting of Shareholders to be held on Friday, July 16, 2004. The Annual Meeting will be held at The Pinnacle Club, located at 555 17th St., Suite 3700, Denver, CO 80202 on July 16, 2004 at 9:30 AM (Mountain Time). The Record Date for determining the stockholders entitled to notice of and to vote at the Annual Meeting will be the close of business on June 18, 2004. At the meeting, shareholders will be asked to vote on, among other things, a proposal to approve the sale of the Company's indirect equity interest in the Siberian-Texan Joint Stock Company Goloil ("Goloil") to the Open-Joint Stock Oil and Gas Company RussNeft ("RussNeft"), the owner of the remaining interests in Goloil. (Logo: http://www.newscom.com/cgi-bin/prnh/20030611/TETONLOGO) Each of the proposals for which approval is sought is addressed in detail in the Proxy Statement. Teton and its Directors will be soliciting proxies from stockholders of Teton in favor of the proposed sale of Goloil. Please read the Proxy Statement carefully when you receive it because it contains important information, including information regarding participants in the solicitation. The Proxy Statement will be mailed on June 23, 2004 to holders of record on June 18, 2004. The Proxy Statement and any other relevant documents can be obtained without charge on the website of the Securities and Exchange Commission at http://www.sec.gov/ or by directing a request to Ms. Gillian Kane, Vice President, Investor Relations (970-870-1417) at the offices of Teton. This news 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 Teton's management. 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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