Since the last update of April 10, 2007 the Company has completed testing of the newly discovered fractured basement zone in the 11-06-31 well. The well has been tested continuously since April 12 and has consistently been producing CO(2) gas at rates of 245 mcfpd with zero water. There has been no decline in either flowing pressures or production rates since inception of testing. In addition, the helium content measured over this period is consistently in the range of 1% of total gas and appears to indicate that this well has discovered a new, high potential, helium pool. Further evaluation of this fractured basement zone will be conducted in future delineation wells in order to further understand the significance of this new pay zone.

The Company is also pleased to report that the Arizona State Land Department has recommended that 8 leases be extended for a further two year period from April 27, 2007. This is in addition to 3 leases granted the same extension on February 22nd, 2007 following the completion of drilling on these leases earlier this year. In total, the 2007 winter drilling program has protected all 11 of the high priority leases due to expire in February and April this year.

Ridgeway Petroleum is a development stage, enhanced oil recovery (EOR), company that controls approximately 200,000 acres of land within the St Johns Helium/CO(2) field in Arizona and New Mexico where the Company is developing what is thought to be the largest undeveloped resource of helium and carbon dioxide gases in North America. Independent engineering firms have estimated that the St Johns field contains approximately 15 trillion cubic feet of in place resources, with a potential recoverable resource of 5 trillion cubic feet. Development of the project could result in the Company becoming one of North America’s largest CO(2) suppliers and EOR producers. The Company’s strategic focus for CO(2) delivery and EOR production is the Permian Basin where significant potential exists for enhanced oil recovery from mature, depleted oil fields.

Source: Ridgeway Petroleum Corp.

CEO Barry Lasker reports “The Company is very encouraged with the results of the testing at the 11-06-31 well. The testing program has indicated that additional helium and CO(2) reserves have been discovered by this well, however the significance of this new zone will only be determined with additional drilling. The Company is also very pleased that our key leases have been secured by the 2007 winter drilling program. The Company had embarked on an aggressive drilling program, the likes of which we had not done before. The Company has been able to learn a great deal about the value of drilling these wells using air, the ability to flow test these wells under natural completions and the discovery of an additional high value Helium zone within the fractured basement beneath the field”.

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