INTH InnoTech Corporation (CE)

Innotech Corporation (Pink Sheets: INTH) (the "Company") is initiating its European Union hydrocarbon exploration and production program in Italy with the first of a planned series of exploration license applications expected to be filed with the Ministry of Industry next month. Italy is the fifth-largest economy in the world and the largest onshore hydrocarbon producer in Western Europe. Although a proven hydrocarbon province for over one century, its potential remains appealing. Few companies are operationally active and Government licensing regulation is attractive with no bidding rounds and application possible at any time for any open area with a tract size of up to 75,000 hectares (185,329 acres) per permit application. Land rentals are Euro 0.05 per hectare ($0.015 per acre) and production royalties are 7%. The first annual 20 million cubic metres (706 million cubic feet) of gas and 20,000 tons of oil are royalty free. Exploration licenses are for an initial period of six years with two further three year extension periods possible. Additional countries with proven hydrocarbon potential and attractive regulatory and tax environments located onshore within the European Union presently are being assessed by the Company. OKLAHOMA, UNITED STATES The Company is commissioning detailed geological evaluations of its existing mineral interests in Okfuskee County, Oklahoma. Situated within and immediately north of the current Devon Energy (NYSE: DVN) and Williams Co. (NYSE: WMB) Caney and Woodford shales play, the Company owns mineral interests in six sections with associated AMI areas totalling 30 sections (19,200 acres). Other exploration stage companies active in the immediate vicinity include Tomahawk Energy (ASX: THK) -- www.tomahawkenergy.com.au TECHNOLOGY: PRESSURE REDUCING ROTATING VALVE The Company continues with the development of its novel pressure reducing rotating valve designed for general petroleum and pipeline applications and is in the process of filing a provisional patent application in respect of its latest working prototype model. FUNDRAISING The Company anticipates completing a $250,000 fundraising within the next 30 days. This is expected to provide sufficient working capital for the initial licensing stage of the Company's European Union hydrocarbon exploration program. FRANKFURT LISTING The Company intends to apply for a listing of its common shares on the Frankfurt Stock Exchange in 2007. Legal Notice Regarding Forward-Looking Statements: Statements made that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. The Company intends that such forward-looking statements be subject to the safe harbors for such statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.