Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

May 26, 2009 09:00 ET

Precision Petroleum Corporation Closes Acquisition of Karsyn #1 Well Located in Seminole County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - May 26, 2009) - PRECISION PETROLEUM CORPORATION (OTCBB:PPTO) - Richard Porterfield, Petroleum Geologist and President of Precision Petroleum Corporation (Nevada Company) (the "Company"), advised that the Company has acquired an interest in Karsyn #1, a successful producing Hunton Limestone well. The Karsyn well is located on 20 acres in the SE/4, Section 20-8N-8E, Seminole County, Oklahoma. The Seminole Field, located to the west of the Karsyn well is one of Oklahoma's major producing oil fields. These wells boast multiple reservoirs. Karsyn is producing from the Hunton Limestone, and has the Calvin Sandstone, another productive zone behind pipe.

President Porterfield states that with oil prices at 60 dollars per barrel or better, the strategic acquisitions by the Company are on target to provide the Company with substantive cash flows which will enable further exploration and development for enhancement of reserves.

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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