Precision Petroleum Corporation-Acquires Interest in Quinlan No. 4, Pottawatomie County, Oklahoma

OKLAHOMA CITY, OKLAHOMA, Jul 14 (MARKET WIRE) --
PRECISION PETROLEUM CORPORATION - (OTCBB: PPTO) - Precision Petroleum
Corporation (Nevada Company - OTCBB: PPTO). Precision Petroleum Corp.
(the "Company") has recently purchased an interest in Quinlan No. 4
located in Pottawatomie County, Oklahoma. This well was initially
completed as an oil producer, however, the reservoir was subsequently
deemed noncommercial. The Company will utilize the well for salt water
disposal for the other Quinlan wells that the Company owns an interest.
This purchase was essential for the operational economics of the entire
Quinlan lease. Quinlan No.'s 1, 2 and 3 are all viable producers;
however, the disposal of salt water is a significant cost factor. The
reduced cost of disposal will be significant.

Richard Porterfield, President mentions that salt water is a common
result with most producing wells in this area of Oklahoma. Owning a field
disposal well is of extreme importance for the continued profitability of
the producing wells. Porterfield states that the alternative is to
accumulate waste water, transport it to a disposal facility and pay to
have it injected. This cost can be prohibitive.

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.

Contacts:
Precision Petroleum Corporation
1-405-722-2920
info@precisionpetroleumcorp.com
www.precisionpetroleumcorp.com

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