SOURCE: Standard Oil Company USA, Inc.

June 24, 2010 06:00 ET

Standard Oil Company USA, Inc. (OTC: SOCU) Announces the Acquisition of 24 Revenue Producing Oklahoma Oil/Gas Leases

DALLAS, TX--(Marketwire - June 24, 2010) -  STANDARD OIL COMPANY USA, INC.'s (PINKSHEETS: SOCU) (www.standardoilcompanyusa.com), Chairman Ronald Brooks announced the purchase of 24 Revenue Producing Oil/Gas Leases in Latimer County, Oklahoma from AAT Investments, Inc. of Oklahoma City, OK. The 24 leases are presently operated by Chesapeake Energy (www.chk.com).

The closing date of this purchase agreement is set for July 15th, 2010.

These leases represent about 4000 acres with the following names:

Blue Mountain (Sec. 30 5N - 20 E) Latimer Co.   Clear Creek (Sec. 29 5N - 20 E) Latimer Co.
Cox (Sec. 33 5N - 20 E) Latimer Co.   Golden (Sec. 10 4N - 20 E) Latimer Co.
Lamb (Sec. 10 4N - 20 E) Latimer Co.   Nicholson (Sec. 27 5N - 20 E) Latimer Co.
Smallwood (Sec. 3 4N - 20 E) Latimer Co.   Turner (Sec. 33 5N - 20 E) Latimer Co.
Turney (Sec. 28 5N - 20 E) Latimer Co.   Childs (Sec 11 4N - 20 E) Latimer Co.
Jack Bauman (Sec. 27 5N - 20 E) Latimer Co.   Prentice (Sec. 11 4N - 20 E) Latimer Co.
Retherford (Sec. 30 4N - 18 E) Latimer Co.   Raymond Smith (Sec. 26 5N - 20 E) Latimer Co.
Wheeler (Sec. 25 5N - 19 E) Latimer Co.   Clear Creek (Sec. 29 5N - 20 E) Latimer Co.
Blue Mountain 3 (Sec. 30 5N - 20 E) Latimer Co.   Cindy (Sec. 21 5N - 20 E) Latimer Co.
Wheeler 4 (Sec. 25 5N - 19 E) Latimer Co.   Deep Blue (Sec. 22 5N - 119 E) Latimer Co.
Turner (Sec. 33 5N - 20 E) Latimer Co.   Clear Creek 2 (Sec. 29 5N - 20 E) Latimer Co.
Blue Mountain 2 (Sec. 30 5N - 20 E) Latimer Co.   Watts Ranch (Sec. 25 4N - 17 E) Latimer Co.

Ronald Brooks is quoted as saying, "This acquisition not only marks our entrance into Oklahoma's vast oil and gas reserves but also furthers our quick approach to revenues for Standard Oil by purchasing interests in existing production. Further, this acquisition allows us to drill our own wells on these leases wherein we know we have proven reserves."

About Standard Oil Company USA, Inc.

Standard Oil Company USA, Inc. (PINKSHEETS: SOCU) is a leading independent energy company headquartered in Dallas, Texas, and focused in the acquisition, development, production, exploration for, and the sale of oil, natural gas and hydrocarbon liquids.

The company is currently evaluating drilling projects both domestically and in the near future, internationally.

For more information visit our website at: www.standardoilcompanyusa.com.

Forward-Looking Statements

This news release contains forward-looking statements made by STANDARD OIL COMPANY USA, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.

Contact Information