Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

March 30, 2010 09:00 ET

Precision Petroleum Corporation- Finalizing Technical Analysis on Booch Sandstone, Seminole County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - March 30, 2010) - PRECISION PETROLEUM CORPORATION (Nevada Company), (OTCBB:PPTO) (the "Company") is pleased to announce that it is finalizing a technical analysis of the Booch Sandstone drilling prospect in Seminole County, Oklahoma.

Pending a positive result from this study, Precision intends to purchase a working interest in the current drilling program proposal from HoCo, Inc., the operator of the Booch Sandstone.

The prospected target, Tyler No. 1 is located in the northeast quarter of Section 33, T9N-R7E. This spud location is adjacent to the established Booch Sandstone well producing high gravity crude from the Sandstone at 3,500 feet.

A renewed vitality has been introduced for the completion methods adopted for this type of Sandstone geology. This innovation involves a pressurized injection with oil base fluids. This procedure has offered multiple areas of investigation and enhanced oil accumulations at a relative low developmental cost.

Porterfield further stated that a successful Tyler No. 1 will afford Precision an opportunity to participate in multiple Tyler offsets. The potential entry by Precision into this Booch Sandstone play will certainly compliment Precisions existing 18 producing leases in the various Oklahoma oil basins. Porterfield also mentions that these Tyler leases have access to all the necessary infrastructures for power, water, storage and delivery.

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;

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.

Contact Information