SOURCE: Xtreme Oil & Gas

Xtreme Oil & Gas

February 23, 2012 08:30 ET

Xtreme Oil & Gas to Capitalize on U.S. Drilling Boom

PLANO, TX--(Marketwire - Feb 23, 2012) - Xtreme Oil & Gas, Inc. (OTCQB: XTOG) (OTCBB: XTOG), an independent energy company engaged in the exploration, development, and production of crude oil, announced that the Company is seeking to capitalize on the influx of investments being made in the U.S. oil drilling industry. In the last year alone, foreign companies have pledged to spend $56.4 billion in natural gas and oil recovery in the U.S.

Onshore oil and gas production is flourishing in Texas and other parts of the United States, thanks largely to new drilling techniques like hydraulic fracturing and horizontal drilling. The perceived investment risks remain low due to the large reserves that are believed to be present in the area. Xtreme Oil & Gas currently owns wells in Texas, Oklahoma, and Kansas that have produced 29 million barrels of oil to date. The locations' history of successful oil production, make them well-suited to applying today's drilling technology and provide an attractive opportunity for investors.

"Xtreme Oil & Gas is excited that investors around the world recognize the value proposition in America's oil industry," stated Mr. McAndrew, CEO of Xtreme Oil & Gas. "Last year's financial commitments, coupled with Exxon Mobile's $41 billion purchase of XTO Energy Inc. in 2010 reflect the nearly $100 billion in capital that has returned to the U.S. oil industry in the previous 20 months. Management is confident it can recover resources from our expanding drilling sites throughout Texas, Oklahoma and Kansas. We believe that growing investment demand coupled with production estimates for 2012, positions us well for significant near term growth."

For more information please follow the link to the Dallas Morning News (http://www.dallasnews.com/business/columnists/jim-landers/20120213-u.s.-drilling-boom-attracts-global-investors.ece)

About Xtreme Oil & Gas
Xtreme Oil & Gas, Inc. is a rapidly growing Texas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas. The company's oilfield services disposes of saltwater for independent energy producers.

Forward-Looking Statements
Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company's ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with the Securities and Exchange Commission.