Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

April 15, 2011 15:46 ET

Precision Petroleum Corporation Status Report on McNeil #1

OKLAHOMA CITY, OKLAHOMA--(Marketwire - April 15, 2011) - Precision Petroleum Corporation (OTCBB:PPTO) can now report that their McNeil #1 in Garvin County, Oklahoma is in the process of being connected to the Scissortail gas line which hopefully should be completed by the following week. Oil recovery has been steadily increasing as the frac load dissipates. Precision Petroleum Corporation expects the McNeil well to level out in the next few weeks and we are very encouraged thus far with the recovery results. Richard Porterfield, President and CEO of Precision Petroleum Corporation, not only expects the McNeil #1 to have representative Viola Limestone Production, but the acreage the well holds is just east (1 ½ Miles) of recent oil creek production which may provide an opportunity to explore for that deeper horizon if future mapping supports an oil creek prospect. Oil Creek reserves when found in a typical trapped structure can produce for decades and possibly accumulate in excess of 100,000 barrels of oil for area.

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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