NOW is an excellent time...

Miller Petroleum is a revenue-producing oil and natural gas company with 50,000 acres leased in the heart of Tennessee's prolific and hydrocarbon rich Appalachian Basin. Beginning in 1967, the company's C.E.O., Deloy Miller, has had a successful track record spanning over thirty five years in this Basin's oil and gas industry. The Miller companies have drilled or serviced more than 65% of all the wells in Tennessee. Miller's leases are in large contiguous blocks, and the majority are held by production.

Now is an excellent time for taking a serious look at Miller Petroleum. Stock and developmental drilling partnership opportunities are rising in value, due to oil and gas national shortages resulting in unprecedented prices. Federal Reserve Chairman Alan Greenspan said on 5/21/03 that "the issue of natural gas was a very serious problem with difficulties in ensuring supply driving up prices and pressuring the U.S. industry."

Miller Petroleum's value will be increased by developmental drilling and production in the Koppers Field and the Lindsay Field, as well as exploiting the focal point of a 20,000-acre prospect with potential horizons in Trenton and Stonesriver.

On the 20,000-acre prospect, lease acquisition has recently been completed and the structure confirmed by four miles of newly executed seismic. Miller has organized this opportunity in a joint venture with a large Appalachian-based independent oil and gas company.

Miller's next prospect is referred to as Koppers North and South. Recently, an additional 6,000 acres has been added to Koppers North to form a 14,000-acre contiguous block with thickened Devonian Shale to produce natural gas. This will accentuate an additional high-grade, 19,000-acre contiguous block in Koppers South. These two areas form 33,000 acres of developmental drilling. Miller recently announced plans to drill 50 new development wells on these two blocks located in Campbell County, Tennessee. Gas lines are present for immediate marketing and cash flow.

Miller's overall documented success in natural gas is 78%, however, Koppers North success ratios are expected to approach 100%. This prospect offers safety with production income from long life reserves of natural gas that is blanketed in a fault-thickened Devonian Age Shale. This proven area has tremendous upside potential with future production from as many as 100 wells to 3,200 feet in depth. Reserves are expected to 250 mmcf of natural gas that could gross $1,375,000.00 over the life of each well.

The Koppers North tract is located directly south of the leading edge of the Pine Mountain Over Thrust. This Thrust has instigated a "heavily fractured" and thickened Devonian Shale. The Shale has been thickened from the regional thickness of 110 feet to as much as 573 feet south of the edge of the thrust fault, hence increasing the reservoir tremendously.

Koppers South produces both oil and gas from the Mississippian Age limestone or the "Big Lime". The Devonian Shale is another productive horizon as is Coal Bed Methane with blanketed coal. The "Big Lime" natural gas reserves are expected to exceed 442 mmcf, to potentially gross $2,431,000.00 over the life of each well. Devonian and CBM gas could drastically increase this amount. The large block of proven acreage is expected to accommodate as many as 50 pure gas wells, 30 oil wells and many CBM wells.

The Koppers South Tract is on the southwest portion of the Pine Mountain Over thrust and situated on the nose of a southeasterly plunging anticline, which separates oil from an up dip gas cap, thereby generating oil production in one section of the lease and natural gas in the other. Hydrocarbon entry comes through oolitic grain stone bars found in the Big Lime section of the Mississippian formation to 3200 feet in depth.

The Days Chapel Field, which is the single largest oil field in Tennessee, is just northeast of the Koppers South tract. This field has produced approximately 3,000,000 barrels of oil and vented 6 bcf of natural gas before pipelines. Miller's geologist believes Koppers South is a direct analog to the Days Chapel Field. The Koppers South tract production is from the same St. Louis member of the Big Lime with similar structure, porosity and permeability.

A total of six coal seams are present under the entire Koppers South Field. These seams are laterally continuous and below drainage. The area is located in a structurally distinct setting between the Jacksboro Tear Fault and the Day's Chapel Anticline. Using a conservative 1.75 g/cc cut off on the Gamma Ray Log, the six seams have a total thickness of 9' 5". These seams range in depth from 450 feet to 1750 feet.

Miller's Lindsey Field is producing natural gas on a structural high from the same oolitic grain stone bar of the Big Lime as in the Koppers South and Days Chapel Fields. The Lindsey #12 open flow tested 2,300 mcf of natural gas. Miller is very optimistic of pure natural gas production in this area with reserves expected at 460 mmcf of natural gas per well. Gas currently is sold to the Powell - Clinch Utility District. This field is in it's infancy with only 6 producing wells from 7 drilled. Now the field is defined, Miller expects to drill and complete many additional wells.

The Company is actively pursuing the acquisition of additional high grade acreage.