Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

August 28, 2009 09:15 ET

Precision Petroleum Corporation-Commences With Remedial Completion Work on Ward/McNeil No. 1 Well, Garvin County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - Aug. 28, 2009) - PRECISION PETROLEUM CORPORATION - (OTCBB:PPTO) - (Nevada Company). Precision Petroleum Corporation (the "Company") has commenced with remedial completion work on the Viola Limestone in the Ward/McNeil No. 1 well, located in Garvin County, Oklahoma. The McNeil No. 1 was initially completed in July of 2006 in the Viola Detrital, a Pennsylvanian Unconformity Sandstone. The well produced at a daily average of 15 barrels. The operator is recommending that the well be perforated at a lower depth to 4500 feet to test the Viola Limestone. There is potentially over 100 feet of pay reservoir in this structure. The Viola Limestone zone will be perforated and completed with an acid frac. This procedure will produce a massive stimulation effect on. The Viola Limestone in this reservoir structure.

Richard Porterfield, Petroleum Geologist and President of Precision comments that this rework project at Ward/McNeil is the genesis of a major corporate proposal to engineer remedial enhancements on the 18 well operations within the Precision fold.

Porterfield stated that with oil prices on a steady climb, that maximum recovery employing these similar types of applications and water injection schemes is our paramount goal. We will endeavor to increase and recover the maximum reserves from our reservoirs.

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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