Parallel Petroleum to Present at EnerCom’s Oil & Gas Conference

Parallel Petroleum Corporation (NASDAQ: PLLL) announced today that its President & CEO, Larry Oldham, is scheduled to present at The Oil & Gas Conference(TM), hosted by EnerCom, Inc., on August 10 – 14, 2008, at the Westin Tabor Center, 1672 Lawrence Street, in Denver, Colorado.

Mr. Oldham’s conference presentation will be Tuesday, August 12, 2008, at 2:45 p.m. Mountain time (4:45 p.m. Eastern time). The presentation will be webcast live and will be available on the Company’s website, http://www.plll.com, and will also be available on The Oil & Gas Conference(TM) website, http://www.theoilandgasconference.com/index.html.

The Company

Parallel Petroleum is an independent energy company headquartered in Midland, Texas, engaged in the exploitation, development, acquisition and production of oil and gas using 3-D seismic technology and advanced drilling, completion and recovery techniques. Parallel’s primary areas of operation are the Permian Basin of West Texas and New Mexico, North Texas Barnett Shale, Onshore Gulf Coast of South Texas, East Texas and Utah/Colorado. Additional information on Parallel is available via the internet at http://www.plll.com.