Nitro Petroleum Incorporated
OTC Bulletin Board : NTRO

Nitro Petroleum Incorporated

December 22, 2009 09:30 ET

Oklahoma Expansion in Nitro Petroleum's Sights

Oil Field Acquisition Negotiations Progress


Nitro Petroleum Inc. ( President James Borem has announced that the Company has entered into purchase negotiations with multiple working interest participants for their ownerships in certain Oklahoma oil field assets. Nitro's management has had substantial prior history in the operation of these specific oil and gas properties and the Company views these negotiations as a unique opportunity to build reserves, increase cash flow and exploit potential remedial and new well expansions. Mr. Borem stated that, "Through these potential equity-based acquisitions we can profit from this proposal while at the same time enabling the present lease owners to participate in Nitro's stock as our Company continues to grow."

Commenting on an additional administrative matter, Mr. Borem has advised that Shane Broesky has resigned as a Director of the Company and wishes to thank him for his past contributions. Qualified persons are presently being interviewed as potential replacements.

About Nitro Petroleum: Nitro Petroleum Inc. is a publicly traded energy company engaged in the acquisition and development of oil and natural gas properties in the United States and Canada. Nitro's objective is to seek out opportunities in the energy sector that represent low risk opportunities with significant upside, both independently and with joint venture partners. More information about the company is available at

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. We do not intend to, and undertake no duty to, update any such forward looking statements to reflect the impact of circumstances or events that arise after the date such forward looking statements were made.

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