Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

May 19, 2009 16:00 ET

Precision Petroleum Corporation-In Negotiations to Acquire Additional Interest in Seminole County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - May 19, 2009) - PRECISION PETROLEUM CORPORATION (OTCBB:PPTO) - Richard Porterfield, Petroleum Geologist and President of Precision Petroleum Corporation (the "Company") advised that the Company is presently in pursuit of an interest in an oil and gas location in Seminole County, Oklahoma. Mr. Porterfield concludes that there is a major interest available in the Heath leases and negotiations are underway. The precise location cannot be identified until such time that an agreement is concluded.

The Hunton Reservoir and the Cromwell Sandstone are the predominant targets in this area. A major incentive is that the lease includes sufficient acreage for a possible development well step out from the current producer which could more than double the existing production rates.

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.

Contact Information