Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

July 13, 2009 10:10 ET

Precision Petroleum Corporation-Acquires 100% Working Interest of 4 Producing Bartlesville Sandstone Wells, Nowata County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - July 13, 2009) - PRECISION PETROLEUM CORPORATION - (OTCBB:PPTO) - Precision Petroleum Corporation (Nevada Company - (OTCBB:PPTO)). Precision Petroleum Corp. (the "Company") has acquired a 100% working interest in 4 producing Bartlesville Sandstone wells. These Sandstone leases are located in Section 31, T27N-R16E, Nowata County, Oklahoma. Two oil wells are currently in production and on line while the other two wells are awaiting remedial recompletion to enhance the Bartlesville Sandstone.

An important inclusion in the lease acquisition is an approved salt water disposal (SWD) well which will serve the waste disposal needs from the 4 wells. Richard Porterfield, President stated that the geology of this location is promising, the lifting costs will be minimal and we expect these 4 locations to further complement the overall production revenues of Precision.

Porterfield states that the Company has now acquired interests in 18 oil and gas lease locations in Oklahoma's prime production areas. For those wells which require re-completions, the Company will immediately embark on remedial programs to ensure maximum recoveries. The Company anticipates that all costs associated with bringing all of the leases to their optimum capacities will be funded from production cash flow.

Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America. Precision's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Precision aims to define larger projects that can be developed with Joint Venture partners. More information about the company is available at; www.precisionpetroleumcorp.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. The Company does not intend to, and undertakes 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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