Nitro Petroleum Incorporated Completes Re-Work on Quinlan #2 Well in Oklahoma
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OKLAHOMA CITY, OKLAHOMA, Jun 29 (MARKET WIRE) --
Nitro Petroleum Incorporated (OTCBB: NTRO) is pleased to announce that it
has completed its second major re-work of the Quinlan #2 well located in
Pottawatomie County, Oklahoma. This well produces oil and gas from the
Viola Lime, which is a primary producing formation in this field. This
lease has been a constant producer.
Nitro is the Operator on this project. The re-work included replacing the
down hole pump and tubing. The re-work was successful, as the well
increased its daily output from 1 1/2 BBLS a day to between 12 to 14 BBLS
a day, which would put this well averaging over 400 barrels a month,
tripling the previous monthly average. Larry Wise, President of Nitro,
commented, "These low cost rework programs will help Nitro achieve higher
net production from its existing asset base for a relatively small
investment, especially when compared to drilling a new well."
About Nitro Petroleum: Nitro Petroleum Incorporated is an independent
energy company engaged in the acquisition, exploitation and development
of oil and natural gas properties in the United States and Canada.
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. More information about the company is available at
www.nitropetroleuminc.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. 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 Incorporated
Investor Relations
Toll Free: (888) 805-NTRO
info@nitropetroleuminc.com
www.nitropetroleuminc.com
Copyright 2009, Market Wire, All rights reserved.
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