Nitro News!
SHAWNEE, OKLAHOMA, Jun 11, 2013 (Marketwired via COMTEX -- Nitro Petroleum Inc. (OTCBB: NTRO is pleased to announce to its shareholders and partners that we have completed the drilling and logging of the Giant #1-21 Well located in Stephens County Oklahoma. Nitro Petroleum Inc. and Partners are extremely excited with the well log showings. The logs show approximately 190 feet of Sears Sand with no depletion. When Texaco discovered this field in 1960 the initial production rate for some of the offset wells were 600 to 800 BOPD and 2000 to 4000 MCFPD. Nitro Petroleum Inc. had originally estimated the Giant #1-21 well to produce 100 BOPD and 200 MCFPD, after reviewing the log results Nitro Petroleum Inc., expects to exceed the projected rates. Nitro Petroleum Inc. will continue to advise everyone of the progress.
Sincerely,
Nitro Petroleum Inc.
James G. Borem, Chairman/CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
Nitro Petroleum Inc.
James G. Borem
Chairman/CEO
405-273-9119
405-273-9889 (FAX
nitropetroleuminc@yahoo.com
SOURCE: Nitro Petroleum Incorporated
