Nitro Petroleum Incorporated

Nitro Petroleum Incorporated

February 29, 2012 09:30 ET

Nitro Finalizes Recompletion of Quinlan Wells

OKLAHOMA CITY, OKLAHOMA--(Marketwire - February 29, 2012) - Nitro Petroleum Incorporated (OTCBB:NTRO) -

Nitro Petroleum is pleased to announce we have finalized the recompletion and testing of the Quinlan wells 1, 2 and 3. We are very excited with the results.

The Quinlan #1 well is currently producing approximately 7 to 8 barrels per day and after we removed the packer and re-squeezed the casing leak, the well should now produce 15 to 20 barrels per day.

The Quinlan #2 is currently producing 18 to 20 barrels per day.

The Quinlan #3 is currently being rod pumped at 3 to 5 barrels per day below a packer. We have determined based to the testing results a submersible lift pump will be required due to the high volume of fluid. The #3 well was tested at a rate of approximately 1500 barrels of fluid with a 2 to 3 percent oil cut, which calculates to be 30 to 45 barrels per day. The company believes this project will increase our cash flow approximately $78,000 per month.

We are planning to post Nitro's year-end financials (January 31, 2011) on or before March 14, 2012. Thank you for your patience on this matter.

About Nitro Petroleum: Nitro Petroleum Incorporated is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the United States and Canada. Nitro's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Nitro 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. We do not intend to, and undertake 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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