Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

March 12, 2009 09:31 ET

Precision Petroleum Corporation-Retains Ramsey Engineering to Conduct Engineering Study

OKLAHOMA CITY, OKLAHOMA--(Marketwire - March 12, 2009) - In a news release dated February 27, 2009, Precision Petroleum Corporation (OTCBB:PPTO) announced the conclusion of an agreement to explore 10 leases in the State of Montana. In order to proceed with this program, Precision has engaged Ramsey Engineering, a petroleum engineering firm in Oklahoma City to initiate an engineering survey to identify and advice on a possible seismic project and to further advice on the optimal drilling locations. Ramsey will access various well data from surrounding fields to supplement their study. We expect that the survey will be completed within 60 days.

Richard Porterfield, Petroleum Geologist and President of Precision advise the importance of the survey which will enable the company to proceed with minimum risk and to focus on the pre-eminent structures identified by the Ramsey study.

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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