Nitro Petroleum Incorporated
OTC Bulletin Board : NTRO

Nitro Petroleum Incorporated

January 25, 2011 09:02 ET

Nitro to Recomplete the McNeil #1

OKLAHOMA CITY, OKLAHOMA--(Marketwire - Jan. 25, 2011) - Nitro Petroleum Incorporated (OTCBB:NTRO) -

Nitro currently has a re-completion development project in progress on the McNeil # 1 well. The well has been re-equipped, perforated and stimulated. The company is planning on fracking this well within the next 10 days. The company is estimating this could add an additional $12,000 to $14,000 cash flow per month to the company income.

The company has identified an additional development project on 4 of the company wells. This project will require change in production equipment on surface and sub-surface. We are currently discussing this project with our industry partners. We are estimating this project to be completed within the next 2 to 3 months. Estimated cost of this project is approximately $600,000 to $700,000.

The company is in negotiations on a 15 well acquisition that we would like to complete in the next 3 to 4 months.

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 www.nitropetroleuminc.com.

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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