PORTRUSH PETROLEUM CORPORATION

April 29 2008

Dear fellow shareholders:

Over the past year Portrush investigated a number of very interesting oil and gas and gas storage prospects and continued to develop its oil and gas development properties.

The Mission River field continues to be developed with a deep test currently being drilled. This program builds on the successful initial program. McAlester, the operator, has defined the prospect by a combination of subsurface well control and 3D seismic. Additional deep drilling is planned to fully develop and recover the reserves and a decision will be taken after this next well regarding the number of wells to be drilled.

The Company maintained its interest the Lenox project in Macomb County, SE Michigan where the Company has a 22.5% working interest in two producing wells, the Martin 1-21 and the Richards 1-20. In association with Hadley Resources Limited, the Company has located an excellent 6.2 BCF Pinnacle Reef Prospect in the heart of Gas Storage Country, Moore Township, Lambton County, South-western Ontario. The well was drilled to a final total depth of 729.0m. on December 6, 2007 without encountering a pinnacle reef. The well encountered a number of "reef proximity indicators" including two zones of reef derived "Sucrosic Dolomite" in the upper A1 Carbonate formation. The 2D Seismic anomaly on which it was drilled is considered "sideswipe" to a pinnacle. The Company has received a proposal and a more sophisticated 3D Seismic survey over the lands to pinpoint a drillable anomaly is currently underway.

The prospect is favourably located on trend and mid point between two pinnacle reef gas storage pools, Kimball Colinville and Waubuno.

I want to thank my fellow board members for their support throughout the year. I also want to thank all those who worked in various capacities during the year and who have continued to demonstrate the drive and dedication necessary for the success we have achieved and will continue to achieve.

ON BEHALF OF THE BOARD,
"M. Cotter"

M.Cotter
President