Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

August 19, 2009 09:15 ET

Precision Petroleum Corporation-Announces Re-Work of Mason Burns and Teresa Well, Garvin County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - Aug. 19, 2009) - PRECISION PETROLEUM CORPORATION - (OTCBB:PPTO) - Precision Petroleum Corporation (Nevada Company). President, Richard Porterfield, recently stated that "have been notified by the operator that they are in the process of remedial upgrades for Mason Burns #2 and Teresa #1. Both wells are located in Garvin County, Oklahoma.

The Teresa well has now produced in excess of 5,000 barrels of oil and 44,000 MCF of natural gas from the Viola Limestone. The Viola will be acid injected to stimulate this production area. This is an industry standard rework procedure for the Viola formation. We expect a rapid recovery of oil and gas flow following the acid flush.

Mason Burns #2 is also on the remedial program. The well currently produces from the Bromide Sand Sequence and a remedial entry to flush and stimulate the zone is common with this formation. Porterfield mentions the Mason Burns bonus which is the presence of a substantial Viola Limestone formation which lies behind pipe. Upon the ultimate depletion of the Bromide, we will re-enter, perforate and fracture the Viola. We expect this to extend our production potential for several years from this well.

Precision Petroleum Corporation has assembled 18 production leases located in Oklahoma which are now in full operation effective July 1st, 2009. Precision is also presently exploring various oil and gas opportunities in Montana, British Columbia and Alberta.

Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America . Precision's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Precision aims to define larger projects that can be developed with Joint Venture Partners. More information about the company is available at; www.precisionpetroleumcorp.com.

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. The Company does not intend to, and undertakes 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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