• June 28, 2005 - Patch International Inc. (OTC BB: PAII - News) is pleased to announce that a drill rig has been secured and the spud date has been set for the week of Monday, July 11, 2005. Drilling of the Bear Canyon project is expected to last 7 days with initial results expected shortly thereafter. PAII is participating for a 25% working interest in the project.
• "Considering that oil and gas prices continue to remain near all time highs, this would be the best time in PAIIs history to announce any new discoveries." Said PAII's President David Stadnyk.
• PAII holds 11.2 million shares in Pharmaxis of which 5.6 million have been declared as a dividend, and is largest shareholder behind the Rothschild Group. The market value of this investment exceeds the market value of PAII.
• Pharmaxis announced that the Therapeutic Goods Administration (TGA) has approved several requests to supply its unapproved drug, Bronchiole, to patients with bronchiectasis who participated in recent clinical trials.
• Pharmaxis Ltd. announced that it has submitted the marketing authorization application for its asthma management product Aridol to the Swedish Medicinal Products Agency.
• It is anticipated that Patch's wells will have a life of over 15 years. This prospect calls for another 30 wells to be drilled. PAII is anticipating these wells to be drilled in 2005.
• Most outlooks call for continued prices of over US$50 barrel oil for 2005 with many experts now predicting prices toward US$100 barrel oil.
• PAII drilling two prospects in Alberta in June. PAII’s W5M Mcleod project was spudded on June 2, 2005.
• "We are anticipating a very active and exciting summer at PAII with the first of what we expect to be many drill campaigns beginning shortly on our Albertan property. In accordance with the company's stated objective of maximizing returns and benefits to all of the company's shareholders, PAII is pleased to have the offering available to any accredited investor." Said PAII's President David Stadnyk.

Libya
On May 12, 2005 PAII announced that it will be participating in the Second bidding round for the awards of certain Exploration and Production Sharing Agreement covering a number of key areas in Libya.

OIL & GAS (NORTH AMERICA)

Kerrobert, Saskatchewan
PAII is currently earning revenue from 19 oil wells in Saskatchewan, Canada in partnership with Arsenal Energy Inc.. These wells provide 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. This prospect calls for another 30 wells to be drilled. The operator of this prospect is True Energy Inc.

W5M Mcleod, Alberta
On June 2, 2005 PAII spudded a well on a prospect in Alberta. The prospect, the Mcleod Project, is a W5M- west of the fifth meridian property and is being drilled to 1950 TVD meters in partnership with two major companies- one a major oil and gas company listed on the TSX and the other a NYSE-listed company.

Bear Canyon, Alberta
On March 10, 2005 Patch signed a Participation Agreement to take part in a gas project located in Alberta, Canada. Patch has acquired a 25% working interest in this project. The project will be drilled as soon as the ground at the drill site is firm enough to transport the drill rig.

Market

Stronger economies will keep energy prices high throughout 2005. Crude prices will be sustained by a weak US dollar, which is providing OPEC with the excuse to aim for a higher price band. OPEC will continue to successfully manage supplies. Demand for oil will be high because of strengthening world economies, particularly the Asian economies, which seem to be oblivious to the higher cost of energy.
The consensus on this is so widespread that it is difficult to find an opposing viewpoint. Most outlooks call for continued prices of over US$50 barrel oil for 2005 with many experts now predicting prices toward US$100 barrel oil.

Management Team

David Stadnyk
Director, President, and Chief Executive Officer
Mr. Stadnyk has diverse experience in corporate management and finance for twenty years. He currently serves as the chairman of Grand Slam Radio which launched team 1040, Vancouver's first and only 24-hour sports radio station, and the chairman of Stadnyk Corporate Group, a venture corporate finance, and investment firm. Mr. Stadnyk was the chairman of Starlight Sports & Entertainment, a sports entertainment company that owned the Vancouver Whitecaps and Vancouver Breakers, professional soccer teams, from October 1999 to May 2002. He was also the president of A.C. Global Capital Group Corp., a CDNX-listed capital pool company, from July 1999 to September 2002. He has served as the chairman, president, secretary and a director of Goanna Resources, Inc., a publicly listed mining company from its inception in June 1997 to March 1999.Mr. Stadnyk was also a licensed stockbroker with Midland Walwyn Capital Inc., Yorkton Securities Inc., and Georgia Pacific Securities Corp. from 1988 to 1991 July 1997. He is a graduate of the University of British Columbia.

Winston Cabell
Director
Mr. Cabell has been a director of Patch International Inc. since August 2002 and the corporate secretary since September 2002. Mr. Cabell has been in the financial services industry since 1996. He has worked with various publicly traded companies where his duties have included corporate communications and corporate finance for these companies. Prior to joining the financial services industry, Mr. Cabell spent 8 years on the professional squash circuit. Mr. Cabell is currently a businessman in the software industry and is involved in a number of other business interests.

Khaled Echikh
Consultant
Mr. Khaled Echikh, a consultant for Patch International Inc. has almost 40 years experience in North African oil and gas. Mr. Echikh has expertise in a number of areas including strategic and technical advice relating to negotiations, to exploration which includes technical work and interpretation, to implementation of work programs, and to evaluating and to screening of undeveloped fields.
For the past 10 years Mr. Echikh has worked as an independent consultant in Algeria, Libya , England, and France for a number of companies including Soco International, London, Tripoli; SIPETROL, Tripoli; SAGA/Norsk Hydro, Tripoli; PLUSPETROL Int., Algiers; and Petroleum Exploration Consultant Ltd, Paris. From 1981 to 1982, Mr. Echikh was the senior explorationist with National Oil Corporation, Tripoli, Libya. From 1977 to 1981 Mr. Echikh was the head of the Exploration Department at the Algerian Petroleum Institute, Algiers, and from 1967 to 1977 he was the surface geologist for Sonatrach, Algiers.

Michael Vandale
Consultant
Mr. Vandale is the chairman, chief executive officer, and president of Arsenal Energy Inc. Prior thereto, Mr. Vandale was chairman and president of Sundance Resources Inc. listed on the TSX Venture Exchange and a director of its successor company, True Energy Inc. listed on the Toronto Stock Exchange. From 1997 to 1999, Mr. Vandale was a director and major shareholder of Mutual Fund Direct Inc. until it was sold to Altamira Investment Services Inc. From 1992 to 1996, Mr. Vandale was President of Midwestern Energy Company Limited.
Mr. Vandale has also been director of the Canadian Soccer Association, Exeter City Football Club in Exeter, England, and owned the Calgary Storm in the North American A- League from 2001-2003.

SEC Filings
PAII filings with the SEC can be found here. All Fillings are current and the Company is fully reporting.