Parallel Petroleum has promoted three of its employees to the executive position of Vice President.

Tom Hanna, CPA - Vice President and Controller Tom Hanna joined Parallel Petroleum in April 2003 as Controller of the Company. Prior to his employment with Parallel, he was Manager of Revenue Accounting with Pioneer Natural Resources from December 1997 through April 2003. From 1991 through the end of 1997, Mr. Hanna was employed by Fina, Inc., where he served in various accounting capacities in both the upstream and natural gas marketing business units. Mr. Hanna received a BBA in Accounting from East Texas State University in 1990 and is a Certified Public Accountant. He has twenty years of experience in the oil and gas industry.

Brian McCurry - Vice President Operations Brian McCurry joined Parallel Petroleum in June 2002 as Manager of Operations. From 1999 to May 2002, Mr. McCurry was employed by First Permian, L.P. as its Operations Manager. Prior to his association with First Permian, he was employed by Fina Oil & Chemical Company for approximately eighteen years, where he served in various managerial capacities. Mr. McCurry graduated from the University of Texas of the Permian Basin in 1992 with a BBA in Finance. He has twenty-nine years of experience in the oil and gas industry.

Jerry Nevans - Vice President Business Development Jerry Nevans joined Parallel Petroleum in June 2002 as Director of Business Development. From 1999 to May 2002, Mr. Nevans was employed by First Permian, L.P. as a Division Engineer. From 1985 to 1999, he was employed by Fina Oil & Chemical Company, where he served in various engineering capacities. Prior to his association with Fina, Mr. Nevans was employed by Getty Oil Company/Texaco USA for approximately three years. Mr. Nevans graduated from Texas Tech University in 1981 with a BS in Petroleum Engineering. He has twenty-nine years of experience in the oil and gas industry.

Larry C. Oldham, Parallel's President and CEO commented, 'Since they became part of our team over seven years ago, these three employees have each played an integral part in the growth of our Company. When we began our growth strategy of acquiring and exploiting oil and natural gas assets in June 2002, we knew we would need an experienced technical and financial team to accomplish our goals. We are fortunate that we were able to build that team and are appreciative of the outstanding contributions that Tom Hanna, Brian McCurry and Jerry Nevans have made to the success of our business plan. They are each very deserving of the promotions they have received. Because of our experienced team, financial strength and operating expertise, we are well positioned to achieve significant future growth.'

Tags: Parallel Petroleum Corporation