The company keeps executing for the benefit of all shareholders
Oklahoma City, OK, USA, May 27, 2009 (PRESSbooth.ORG) -- Precision Petroleum Corporation (US:PPTO) - Richard Porterfield, Petroleum Geologist and President of Precision Petroleum Corporation (Nevada Company) (the "Company"), advised that the Company has acquired an interest in Karsyn #1, a successful producing Hunton Limestone well. The Karsyn well is located on 20 acres in the SE/4, Section 20-8N-8E, Seminole County, Oklahoma. The Seminole Field, located to the west of the Karsyn well is one of Oklahoma's major producing oil fields. These wells boast multiple reservoirs. Karsyn is producing from the Hunton Limestone, and has the Calvin Sandstone, another productive zone behind pipe.
President Porterfield states that with oil prices at 60 dollars per barrel or better, the strategic acquisitions by the Company are on target to provide the Company with substantive cash flows which will enable further exploration and development for enhancement of reserves.
Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in the United States. 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.
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