Profile: Precision Petroleum Corp (PPTO.PK)
20 Dec 2013
Precision Petroleum Corporation, incorporated on February 7, 2007, is a production-stage company. The Company is engaged primarily in the acquisition, development, production, exploration for, and the sale of oil, gas and natural gas liquids. All business activities are conducted in Oklahoma and the Company sells its oil and gas to a limited number of domestic purchasers. The Company has projects in Oklahoma and Montana. The Company has 13 active wells in Oklahoma projects. Its Oklahoma wells include Thompson No. 1 Well, located in Garvin County; Mason Burns No. 2 Oil Well, located in Garvin County; Teresa No. 1 Oil Well, located in Garvin County; Quinlan No. 1, located in Pottawatomie County; Jessica No. 23A, located in Seminole County; Sharon No. 1, located in Garvin County; Crown Lease, located in Pottawatomie County; Heath No. 1 Well, located in Seminole County, Karsyn No. 1 Well, located in Seminole County, and White No. 12-1 Oil Well, located in Pottawatomie County.
On November 5th, 2009, the Company signed an agreement to purchase a 57.2682% working interest in the Ed Thompson. On September 1, 2010, the Company purchased a 5% working interest in a seven well package located in Garvin County, Oklahoma. In June of 2010, the Company acquired an additional 25% working interest in the Mason Burns well. The Company also increased their working interest in the Teresa #1 well by 11% and in the Quinlan. On February 22, 2010, the Company sold all of its working interest in the Jameson lease, retaining 3% overriding royalty interest.
Precision Petroleum Corp
Suite 101 A, 624 W. Independence
SHAWNEE OK 74804