Nitro Petroleum Incorporated
OTC Bulletin Board : NTRO

Nitro Petroleum Incorporated

March 12, 2008 20:26 ET

Nitro Petroleum, Inc. Enters Into Negotiations on Quinlan Lease, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - March 12, 2008) - Nitro Petroleum, Inc. (OTCBB:NTRO) -

Larry Wise, President of Nitro Petroleum, Inc., is pleased to advise that Nitro has entered into negotiations and has prepared a letter of intent for the new drilling project in Pottawatomie County with Toro Ventures Inc. of Seattle, Washington.

The letter of Intent contemplates that the Drilling Program will commence on or before April 1, 2008.

This is a turnkey agreement whereby Toro will acquire a 60% working interest.

The pending agreement provides that Nitro will remain as Operator.

Nitro intends to drill up to four new wells on the Quinlan Lease as a fully functional oil and gas production lease. These will be drilled to a depth of approximately 4400 feet.

The anticipated work program shall include equipping well sites, electrifying the lease, installation and laying of water and production lines on the lease deepens wells to alternative zones for the enhancement of the lease production or the disposal or injection of water.

Larry Wise, CEO of Nitro Petroleum, Inc., stated, "From all of the past data gathered on this property the company feels very positive about the proposed drill locations."

About Nitro:

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. Nitro is confident that these viable opportunities exist in a sector that holds long-term fundamental strength.

Nitro intends to exploit energy exploration opportunities through various partnerships available throughout the Southern United States and in doing so build significant Oil and Natural Gas reserves and capital appreciation to its shareholders.

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.

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