PetroSearch Merges with PetroSearch Energy Corporation

Company to Begin Trading Under New Ticker Symbol

HOUSTON (PR Newswire) December 30, 2004 – PetroSearch Corporation (OTCPK: PSCP) today announced that it has completed its merger with PetroSearch Energy Corporation (a Nevada Corporation). The company will now be known as PetroSearch Energy Corporation and will begin trading under its new ticker symbol (OTCPK: PTSG),effective as of December 31, 2004.

Commenting on the merger, Richard Dole, CEO and President of PetroSearch Energy Corporation, said, “The name change and new ticker symbol are part of the final phase of the previously announced merger. This event, combined with the strong success of our business model, as well as management’s expertise and experience, will allow us to work to increase shareholder value to our growing audience of institutional and retail shareholders. I look forward to updating stockholders on our drilling operations in the New Year.”

Brad Simmons, former Chairman and President of PetroSearch Corporation said, “Merging with PetroSearch Energy Corporation was a necessary step to better position the Company to take advantage of the vast opportunities that our ‘prospect generation’ business model is attracting.”

As previously announced, PetroSearch Corporation affected a 6.5 to 1 reverse stock split immediately prior to the merger with PetroSearch Energy Corporation and the redomicle to Nevada. Shareholders of record will receive a letter from the Company’s transfer agent, Corporate Stock Transfer, providing specific instructions no how to exchange their stock certificates. Further information on the Company may be obtained from our website (www.petrosearch.com).