October 23, 2008

NGAS Resources, Inc. To Conduct a Webcast of Its Third Quarter 2008 Financial Results

NGAS Resources, Inc. (Nasdaq: NGAS), today announced that it will be releasing its third quarter 2008 financial results after the market close on Wednesday, November 5, 2008. The full text of the release will also be available on the Company's website at www.ngas.com.

Management will host a conference call on the same day at 4:30 p.m. (Eastern). The conference call will be webcast and can be accessed from the Company's website at www.ngas.com or by cutting and pasting the following link into your browser: http://viavid.net/dce.aspx?sid=000056BD.

To listen to a replay of the conference call, dial toll-free 1-888-203-1112 or 1-719-457-0820 for international callers and enter replay pin number 6498200. The replay will be available beginning at 7:30 p.m. (Eastern) on Wednesday, November 5, 2008 and will last through 11:59 p.m., Wednesday, November 12, 2008. An indexed recording of the call will also be posted on the Company's website following the call's completion.

About NGAS Resources

NGAS Resources is an independent exploration and production company focused on conventional natural gas basins in the United States that support repeatable drilling opportunities, principally in the southern portion of the Appalachian Basin. Additional information, including the Company's annual report on Form 10-K for 2007 which can be accessed on its website at www.ngas.com.