Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

June 12, 2009 16:00 ET

Precision Petroleum Corporation in Negotiations to Acquire Up to 88% of Producing Well in Pottawatomie County, Oklahoma

OKLAHOMA CITY, OKLAHOMA--(Marketwire - June 12, 2009) - Precision Petroleum Corporation (Nevada Company) (OTCBB:PPTO). Precision Petroleum Corporation (the "Company") is currently in negotiations to purchase up to 88% working interest of a producing well in Pottawatomie County, Oklahoma.

President Richard Porterfield, comments that the Company is in final negotiations with lease owners on a very substantial oil property located in Pottawatomie. County. We expect to conclude the purchase agreement over the weekend. As a result of the recent significant upturns in petroleum values, lease owners are clearly in a greater demand position. Porterfield is optimistic and stated that "a deal will be consummated over the weekend."

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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