OKLAHOMA CITY, OKLAHOMA--(MARKET WIRE)--Jun 12, 2009 -- Nitro Petroleum Incorporated (OTC BB:NTRO.OB - News) is pleased to announce that it has completed testing on its first Alberta well. On June 5, 2009, Nitro announced it was participating in a two well project. The first well has completed testing. The meters were pulled on June 9th and the well pressured back up to approximately 1100 psi. The data from the meters will be analyzed to get an accurate estimate of reserve potential with the production testing indicating a flow rate of 700,000 cubic feet of gas per day including hydrocarbon liquids. The Banff structure, where the pay zone is for this well can contain very large natural gas reservoirs and Nitro will do some further testing of multiple zones. This lease also provides Nitro an opportunity to participate in three additional wells.
The second well is a re-completion of an existing cased well. The re-completion comprises of running tubing and tying the well to the operator's existing pipeline. The Elerslie zone was fractured and the initial flow rates from this well were over 1,000,000 cubic feet of gas per day. The logs also indicate an oil zone in the middle Manville structure which the operator intends on perfing and testing. Final production rates will be released when they are available.
Larry Wise, President of Nitro, stated, "These two leases give Nitro a significant entry into the oil and gas business in Central Alberta. Not only do we have interests in two prolific producing oil and gas locations but our expansion opportunities at these two leases are significant."
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.
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