Parallel Petroleum Corporation Q2 2004 Earnings Conference Call & Webcast

Parallel Petroleum Corporation (NASDAQ:PLLL) will host a conference call and webcast to discuss the Company's financial and operational results for the second quarter ended June 30, 2004, on Monday, August 16, 2004, at 2:00 p.m. Eastern time.

The call is being webcast and can be accessed at Parallel's web site.

The webcast is also being distributed to both institutional and individual investors.

To participate in the call, dial 1-800-295-4740 or 1-617- 614-3925, Participant Passcode 57954752, at least five minutes before the scheduled start time. A replay of the conference call will be available at the Company's web site or by calling 1-888-286-8010 or 1-617-801-6888, Passcode 66990827.

Parallel's related operations update for the second quarter ended June 30, 2004, is expected to be released on or before Monday, August 16, 2004.

Parallel's related earnings announcement for the second quarter ended June 30, 2004, is expected to be released on the day of the conference call, Monday, August 16, 2004.