Genoil Inc. Selected to Present at Energy Tech Investor Conference and Triple Gold Investment Conference

TSXV SYMBOL: GNO
OTCBB SYMBOL: GNOLF.OB

Calgary, Alberta, Canada. July 17th, 2006. – Genoil Inc. is pleased to announce that successful energy investor and Genoil’s Senior Financial Advisor, Mr. David Kippen, has been selected to participate in a panel of prominent energy venture capital investors at the 3rd Annual Energy Tech Investor Conference. Mr. David Kippen will be a panelist on Tuesday, July 18th at 4:15 pm at the JW Marriott Hotel, San Francisco, on the topic of “Fossil and Nuclear Based Fuels”, fuels that are expected to have the biggest impact on the energy supply over the next 20 years.

Energy technology companies are getting together at this conference to discuss hot issues of this century and respond to the demand for efficient, clean and reliable energy. They will share their perspectives on investment opportunities in front of capitalists, strategic and corporate investors, who are now paying closer attention to energy technology companies. Clean technology is not only changing our world, but also the venture investment landscape as we know it and could be the largest economic opportunity of the 21st century. Further details on the Energy Tech Investor Conference scheduled for July 19-20th, are available on the conference website at www.srinstitute.com/cx605.

Also, Genoil Chairman and Chief Executive Officer, Mr. David K. Lifschultz, will be presenting at the Triple Gold Investment Conference on July 20th, 2006 at 1:40 pm at the Princeton Club, New York City. Mr. Lifschultz was chosen to join the panel of presenting companies as part of the Black Gold Session. Genoil will also be represented by Ms. Candice Beaumont, at this event for natural resource companies and investors looking for quality investment opportunities.

Genoil is a technology development and engineering company providing environmentally sound solutions to the oil and gas industry through the use of proprietary technologies. The Genoil Hydroconversion Upgrader is designed to economically convert heavy crude oil into more valuable light synthetic crude, high in yields of transport fuels, while significantly reducing the sulfur, 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.

For more information on Genoil Inc. visit www.genoil.net
David Lifschultz
Chairman and CEO
(212) 688-8868
Website: www.genoil.net

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, strategic partnerships, operations, financing alternatives, and the timing of visits to the Corporation’s facilities and of the completion of proposals may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with an oil and gas technology development corporation, including competition from other technologies and the ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated. The Corporation 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. Additionally, statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company’s ability to obtain new contracts and accurately estimate net revenues due to the variability in size, scope and duration of projects, and internal issues.

Further information on potential risk factors that could affect the company?s financial results can be found in the company’s disclosure materials filed on SEDAR at www.sedar.com and with the Securities Exchange Commission.