Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

March 02, 2011 16:38 ET

Precision Petroleum Corporation Increase in Revenue September, 2009 Through September, 2010

OKLAHOMA CITY, OKLAHOMA--(Marketwire - March 2, 2011) - Precision Petroleum Corporation (OTCBB:PPTO) is pleased to disclose that during the year of 2010 management has been primarily focused on increasing reserve value by improving the company balance sheet and increasing the cash flow by reducing operating expenses. 

Precision Petroleum has increased sales by 218% with an improvement of a $130,420 from September 30, 2009 to the ending period of the same month of 2010. This is a substantial increase from the previous year. Precision's expenses have only increased 133%, over the same previous year as described above. Richard Porterfield, CEO and President of Precision Petroleum believes that future revenues continue to increase as above and management foresees further reductions of operating costs and continue to rework existing wells and acquiring new acquisition in order to continue the growth of the company.

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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