Nitro Petroleum Incorporated
OTC Bulletin Board : NTRO

Nitro Petroleum Incorporated

March 20, 2008 08:00 ET

Nitro Petroleum, Inc. Completes Return of Shares to Treasury

OKLAHOMA CITY, OKLAHOMA--(Marketwire - March 20, 2008) - Nitro Petroleum, Inc. (OTCBB:NTRO) -

Nitro Petroleum, Inc. is pleased to announce that the company's majority stockholder has surrendered its ownership of 100 million shares of the company's common stock. Those 100 million shares have been cancelled and will be returned to treasury stock. The cancellation of these 100 million shares resulted in a 67% reduction in company's total outstanding shares. The company now has 48,540,000 shares of common stock outstanding.

Larry Wise, President of Nitro, explains that with the new market cap we can now move ahead with potential financing opportunities in this very exciting Energy market.

About Nitro

Nitro Petroleum, Inc. is an independent, energy company engaged in the acquisition, exploitation and development of oil and natural gas properties in the Southern United States. 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.

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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