Petrosearch Energy Meets Barnett Shale Obligation and Receives Assignment of Interests

HOUSTON – October 19, 2006 – Petrosearch Energy Corporation (OTCBB:PTSG) ("Petrosearch") announced today that the Company has made the required payment for the Company's working interest in the Barnett Shale project. The Company has received its assignment of ownership interest in the current lease acreage and related wells for the Barnett Shale project.

Richard Dole, Petrosearch's CEO stated, "We are pleased with the progress in the Barnett Shale project and continue to work with our capital market relationships to implement financing that will best accommodate the long-term needs of the Company."