OKLAHOMA CITY, OKLAHOMA--(Marketwire - 08/20/09) - Nitro Petroleum (OTC.BB:NTRO - News) announces today that the Company is in the process of remedial upgrades for Mason Burns # 2 and the Teresa # 1 wells. Nitro Petroleum is the operator on these two wells which are located in Garvin County, Oklahoma. The Teresa well has now produced in excess of 5,000 barrels of oil and 44,000 MCF of natural gas from the Viola Limestone. The Viola will be acid injected to stimulate this production area. This is an industry standard rework procedure for the Viola Formation. The Company expects a rapid recovery of oil and gas flow following the acid flush.
Mason Burns # 2 is also on the remedial program. The well currently produces from the Bromide Sand Sequence and a remedial entry to flush and stimulate the zone is common with this formation. Nitro's geologist has identified a substantial Viola Limestone formation that lies behind pipe. Upon the ultimate depletion of the Bromide, the Company will re-enter, perforate and fracture the Viola. The Company expects this to extend our production for several years from this 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.
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