Nitro Petroleum, Inc. Announces Crown Lease Update
Nitro Petroleum, Inc. (OTCBB: NTRO) -
Nitro Petroleum, Inc. reports today on the progress of the companies
Crown Lease in Oklahoma. The company completed all the rework
operations on the Crown # 1 as of May 2, 2008. This well should be
online and producing in the next few days. The Crown # 3 well will be
fully complete and online shortly as well. All wells including the
Disposal well had electrical transformers installed as of May 7, 2008.
Nitro is the Operator and will be announcing the Initial Production
numbers of these wells in the near future.
Also the company would like to announce that the dozer has cleared
the first location for the drilling of the Quinlan # 3 well. Nitro
Petroleum is also the Operator on the Quinlan project. The Quinlan
lease has the potential for several wells and this lease has a history
of very steady production. Initial Production numbers from the Quinlan
# 1 were 334 Barrels of Oil per day and the # 2 Initial Production was
298 barrels of Oil per day.
About Nitro:
Nitro Petroleum, Inc. is an independent, energy company engaged in
the acquisition, exploitation and development of oil and natural gas
properties in the Southern United States. Nitro's objective is to seek
out and develop opportunities in the Oil and Natural Gas sectors that
represent a low risk opportunity. As well, Nitro aims to define larger
projects that can be developed with Joint Venture partners.
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. We do not
intend to, and undertake 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.
Contacts:
Nitro Petroleum, Inc.
Larry Wise
Investor Relations
(405) 722-2920
Website: www.nitropetroleum.com