Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

May 20, 2009 16:00 ET

Precision Petroleum Corporation Acquires Thurman Sand Oil Producer, Seminole County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - May 20, 2009) - PRECISION PETROLEUM CORPORATION (OTCBB:PPTO) - Richard Porterfield, Petroleum Geologist and President of Precision Petroleum Corporation (the "Company"), advised that the Company has just negotiated to purchase a Thurman Sand oil producer named the Jessica #23A, in Section 5, T6N-R6E, in Seminole County, Oklahoma. The goal of this purchase is to expand Precision's gas reserves by re-completing a zone up-hole in the Calvin Sand which is a significant gas bearing formation thus helping to expand gas reserves for the corporation. A nearby offset, only 1320 feet to the northeast, tested over 250,000 CFG/D from the Calvin Sand which is a sizeable amount of gas production considering the shallow depth of the sand. The current acreage position will allow an in-field well to be drilled if offset production is needed to adequately drain the formation.

Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in the United States. 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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