David K. Lifschultz Selected to Present at Aspen Clean Energy Roundtable

TSX VENTURE: GNO
OTCBB: GNOLF

Calgary, Alberta, April 4, 2006. Genoil Inc. is pleased to announce that the Chairman and Chief Executive Officer, Mr. David K. Lifschultz, was selected to present at the Aspen Clean Energy Roundtable, together with other senior international energy and government leaders. Mr. Lifschultz will participate on the “Cleaner Solutions for Hydrocarbons & Nuclear” Session that takes place on Thursday April 6, 2006 in the afternoon.

The Aspen Clean Energy Roundtable is being held on April 5 – 7, 2006 in Aspen, Colorado, organized by Montreux Energy, with the objective of a broad exchange in views of policy, investment, and technology in a five to ten-year investment horizon. Topics will include world outlooks for natural gas, LNG, GTL, coal gasification, tar sands, nuclear power, and the successful integration of renewables into generating and investment portfolios. Participation is by invitation only and closed to the press. Other panel members represented at the Roundtable include the U.S. Department of Energy, ConocoPhillips, Cinergy and KFx.

Genoil is a technology development company providing solutions to the oil and gas industry through the use of proprietary technologies. The Genoil Hydroconversion Upgrader (GHU^TM) can economically convert heavy crude oil into more valuable light synthetic crude, high in yields of transport fuels, while significantly reducing the sulphur, nitrogen and other contaminants in the oil. Genoil’s shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.OB.

Genoil Inc.
David Lifschultz
Chairman and CEO
(212) 688-8868
www.genoil.net

Statements included in this release may constitute forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development and performance, market demand, and the company’s ability to obtain new contracts. Further information on potential risk factors that could affect the company’s financial results can be found in the company’s Reports filed with the applicable securities regulators.

ADVISORY: The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. Certain information regarding the company, including management’s assessment of future plans and operations may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with oil and gas related technologies, production, marketing and transportation; as a consequence, actual results and outcomes may differ materially from those anticipated. The company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements.