Nitro Petroleum Incorporated
OTC Bulletin Board : NTRO

Nitro Petroleum Incorporated

August 23, 2007 14:50 ET

Nitro Petroleum, Inc. Participates in New Well-Pauls Valley, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - Aug. 23, 2007) - Nitro Petroleum, Inc. (OTCBB:NTRO) -

Nitro Petroleum, Inc. is pleased to advise that the Sharon # 1 well in North Pauls Valley, Oklahoma was drilled to 4300 feet to test the Oil Creek sand formation. The North Paul Valley prospect is located in Garvin County. Nitro Petroleum has a 6.375% gross working interest in this well.

The well was tested on July 4th, 2007 and has been on-line producing since July 17th, 2007. Production from the well to date has exceeded 10 million cf of gas and is currently producing at an average rate of 40 bbls of oil and 330,000 cf of gas a day.

Nitro Petroleum, Inc. is currently negotiating to purchase existing well bores for behind pipe reservoirs, re-quipping and re-working existing wells for enhancing production.

These projects will be announced shortly.

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.

Contact Information

  • Nitro Petroleum, Inc.
    Andrea Bleasdale
    Investor Relations
    Toll Free: 1-888-740-7276