Plano Petroleum, LLC announced production results from the first five wells of its 2012 horizontal drilling program in the Marmaton, or lower Cleveland, oil reservoir in Ellis and Roger Mills counties, Oklahoma.

In addition to the five wells detailed in this report, Plano has two additional Marmaton horizontal wells currently being drilled in the area which are expected to begin production in mid to late September.

Plano completed its first two Marmaton wells in this play in 2011 and the performance of those wells resulted in the Company expanding its 2012 drilling efforts in this play. Plano's 2012 Marmaton completions are benefitting from optimizing the completion with more fracture stimulation stages and higher proppant volumes.

Plano's first 2012 Marmaton completion is the Marilyn 3H-8 in Section 8, 17N, 24W in Ellis County. The initial flow rate was gauged at 930 barrels of oil per day (BOPD) with 1.8 million cubic feet of gas per day (MMCF). The well has produced 39,364 barrels of oil with 9,376 barrels of natural gas liquids and 59 MMCF of residue gas for a combined 58,678 barrels of oil equivalent (BOE) during its first four months.

The Agnes 2H-12 was drilled in Section 12, 17N, 25W in Roger Mills, County. The Agnes 2H-12 reported an initial rate of 724 BOPD and 2.37 MMCFD following stimulation. The well has produced 37,340 barrels of oil, 12,086 barrels of natural gas liquids and 107 MMCF of residue gas for a combined 67,413 BOE during its first 105 days of production.

The BMB 2H-6, located in Section 6, 17N, 24W in Ellis County reported an initial rate of 963 BOPD and 2.36 MMCF. Through the first 71 days on line the well has produced 28,422 barrels of oil, 8,064 barrels of natural gas liquids and 58 MMCF of residue gas for a combined 46,288 BOE or 652 BOE average per day.

Plano successfully expanded the play to the south with the completion of the Francis 1H-21 in Section 21, 17N, 24W in Ellis County. The Francis well had an initial rate of 552 BOPD and 2.4 MMCF. It has produced 18,374 BO and 44 MMCF in 52 days.

Plano then extended the play several miles west with the completion of the Nellie 2H-10 well in Section 10, 17N, 25W in Roger Mills County. The Nellie well had an initial rate of 557 BOPD and 2.2 MMCFG and was completed with a 20-stage slick water fracture stimulation.

Plano's seven completions in the Marmaton have posted an average IP of 1,014 BOEPD per well. Plano's prolific and consistent results in this emerging play are the result of a proprietary mapping technique, precise geosteering and a dependable completion design. Their production results are near the top of the 84 total wells drilled in the Marmaton in the past two years in the area by several operators. Plano will operate over 50 Marmaton locations based on 160 acre spacing in the above average reservoir quality area defined by the proprietary mapping technique.

Cory Richards, Plano's CEO, commented, 'The high producing rates of these wells generate exceptional economics and are remarkably consistent. Now that we have substantially de-risked the play by establishing production over a wide area which we control and operate, these assets are poised for widespread development. This stacked oil pay area is unique and will be developed for many years to come.'

In addition to the Marmaton, Plano has a substantial inventory of proven oil locations in the Tonkawa, Cottage Grove and Cherokee formations. Plano holds over 8,900 net acres in the area with over 90% of the acreage in HBP status. Most of Plano's HBP positions extend through all of the oil productive formations. With at least four different oil reservoirs being developed with horizontal drilling on and around Plano's acreage, the total development potential exceeds 40,000 net acres, including 28,000 in the four 'Black Oil' formations listed above.

Plano's June 2012 net production was approximately 1,200 BOEPD with net production projected to exceed 1,450 BOEPD by October. Plano's average working interest in its operated wells is over 54% and over 90% of Plano's undeveloped reserves are operated.