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Turner Valley Signs Joint Venture Agreement to Drill in Mississippi and Louisiana

Turner Valley Oil and Gas (OTCBB: TVOG) is very pleased to announce that it has entered into an Agreement to acquire a working interest in multiple zones of potential oil and gas production in Mississippi and Louisiana. This Agreement contemplates up to a 50 well drill program for Wilcox and Frio wells, at the Company's option, within the defined area of mutual interest (AMI). The AMI includes over 300,000 gross acres located contiguously between Southwest Mississippi and North East Louisiana.

Turner Valley has agreed to pay 10% of all prospect fees, mineral leases, surface leases, and drilling and completion costs to earn a net 8% of all production from all producible zones to the base of the Frio formation (Frio Targets); and, 7.5% of all production to the base of the Wilcox formation (Wilcox Targets). All working interests will be registered in the name of Turner Valley Oil and Gas Inc.

The Joint Participation Agreement and Joint Lands Agreements are between Turner Valley Oil and Gas Inc. and Griffin & Griffin Exploration LLC (G&G) of Jackson, Mississippi. G&G has enjoyed a solid reputation as an Oil and Gas Explorer and Producer for over 40 years in Mississippi and Louisiana. Pursuant to these Agreements, Turner Valley Oil and Gas Inc. will benefit from over 2,000 miles of seismic records and all pipeline infrastructure.

G&G will conduct the two proposed drilling programs and has been appointed the Operator of all joint properties. The Company expects drilling to commence during the first week of September 2006. All proposed drill locations on the first 20 wells are within tie-in range of existing pipeline infrastructures.

This project has met the Company's risk tolerance criteria and further advances the Company's business plan.

ABOUT TURNER VALLEY OIL AND GAS INC.

Turner Valley Oil and Gas is an emerging oil and gas company focused on exploration for, development drilling for, and transmission facilities for the production and sale of oil and gas. Turner Valley is focused on increasing production by means of continuing acquisitions, development projects and exploration drilling within a joint venture framework.

FORWARD-LOOKING STATEMENT

Except for the historical and present factual information contained herein, the matters set forth in this release include statements of management's current expectations as to efficiencies, cost savings, market profile and financial strength, and the competitive ability and position of the company. Statements identified by words such as "expects," "projects," "plans," "believes," "estimates," and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These and other forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the possibility that the anticipated benefits from TVOG's operations cannot be fully realized, the possibility that commodity prices, costs or difficulties related to the conduct of its business will be greater or lesser than expected, and the impact of competition and other risk factors relating to our industry will be greater than expected, all as detailed from time to time in TVOG's reports filed with the Securities and Exchange Commission. TVOG disclaims any responsibility to update these forward-looking statements.

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