KOKO Petroleum, Inc.

KOKO Petroleum, Inc.

November 07, 2005 09:25 ET

KOKO Petroleum, Inc. Corporate Update

LAS VEGAS, NEVADA--(CCNMatthews - Nov. 7, 2005) - KOKO Petroleum, Inc. (PINK SHEETS:KKPT) announced today that it has exercised its option to participate in the second Barnett Shale play through its affiliation with REO Energy Ltd.

KOKO has acquired a 10% working interest in the Inglish #2 well. The well has commenced drilling and is presently at 6000 feet at a total cost of 1.4 million dollars. The terms are similar to the first Barnett Shale well, Boyd #1.

Due to KOKO's commitment to the Barnett Shale project, REO has elected to include KOKO in this well which is an offset to Inglish #1 which has produced 15,000 bbls of oil and 140 million cubic feet of gas.

REO anticipate a multi well drilling program to explore and develop the Shale play of which KOKO will be a significant participant.

REO believes that Inglish #2 will match the production ability of Inglish #1.

The Barnett Shale oil and gas play in North Texas is currently the most active exploration and development petroleum prospect in the United States.

The Newark East Field in the Barnett Shale is the largest natural gas field in Texas and produces 25% of the Nation's natural gas.

Ted Kozub, President of KOKO comments that, "The Barnett Shale prospects have substantial opportunities due to the success factors evidenced by the extensive activity in the Shale Play. We are very pleased with our current progress and our future ability to participate in a major petroleum venture."

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. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.

Contact Information