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Nitro Petroleum Incorporated Completes Re-Work on Quinlan #2 Well in Oklahoma
Nitro Petroleum Incorporated (OTCBB: NTRO) is pleased to announce that it has completed its second major re-work of the Quinlan #2 well located in Pottawatomie County, Oklahoma. This well produces oil and gas from the Viola Lime, which is a primary producing formation in this field. This lease has been a constant producer.
Nitro is the Operator on this project. The re-work included replacing the down hole pump and tubing. The re-work was successful, as the well increased its daily output from 1 1/2 BBLS a day to between 12 to 14 BBLS a day, which would put this well averaging over 400 barrels a month, tripling the previous monthly average. Larry Wise, President of Nitro, commented, "These low cost rework programs will help Nitro achieve higher net production from its existing asset base for a relatively small investment, especially when compared to drilling a new 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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Daily NewsTags: ,Energy and Utilities:OilandGas, ,OTCBULLB,OTCBULLB,,OKLAHOMA CITY, OKLAHOMA
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