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Nitro Completes Stimulation Program

Nitro Petroleum Inc. Completes Stimulation Program: Oklahoma


OKLAHOMA CITY, OKLAHOMA, May 17, 2010 (MARKETWIRE via COMTEX) -- Nitro Petroleum Incorporated (OTCBB: NTRO) is pleased to announce an engineering update on the first two wells in regard to the current enhancement program. The Quinlan #1, Quinlan #2, and Quinlan #3 wells are located in the Northeast Shawnee Field in Pottawatomie County, Oklahoma. Nitro is the operator on this field and chose to upgrade these 3 wells first which includes re-works on mechanical equipment down hole and chemical treatments which will happen within the next thirty days on the Quinlan #1 and Quinlan #2 wells. This work should result in a significant increase of daily production rates. In addition, Nitro's engineering department advises that the Viola Limestone is behind pipe in the Quinlan #3 well which should be re-equipped and put online within the next thirty days for new production. The company is actively seeking further Oil & Gas opportunities and is in negotiations on several projects subject to due diligence.

About Nitro Petroleum: Nitro Petroleum Inc. is a publicly traded energy company engaged in the acquisition and development of oil and natural gas properties in the United States and Canada. Nitro's objective is to seek out opportunities in the energy sector that represent low risk opportunities with significant upside, both independently and 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.

 

 

Contacts:
Nitro Petroleum Incorporated
Investor Relations
405-273-9119
www.nitropetroleuminc.com


SOURCE: Nitro Petroleum Incorporated

 

 

 

CONTACT:          http://www.nitropetroleuminc.com

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SUBJECT CODE:     Energy and Utilities:Oil and Gas

Posted by admin on Jun 7, 2010

Announcements
January 14, 2012
2011 Nitro News updates Read more...»
February 4, 2011
Nitro Petroleum Incorporated begins recompletion programs Read more...»
February 4, 2011
Nitro to Recomplete the McNeil #1 Read more...»
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MARKETS

Symbol:  NTRO
Current Price:   $.008
52 Week Range:   $.0002 - .023
Average Volume:  128,325
Outstanding Shares:   207,424,156
Restricted Shares:   77,981,054
Current Market Cap:   $1.63m

 

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