2011-02-25-2011-02-04-2011-02-04

Purchased 58.375% WI in a producing oil well in Garvin County.

Precision Petroleum Corp., Shawnee, Okla., (OTCBB: PPTO) has purchased a 58.375% working interest in a producing oil well in Garvin County, Oklahoma, for an undisclosed price. The well, Thompson #2, is currently producing from the Viola lime hydrocarbon structure.

The company will proceed with an immediate remedial workover on Thompson #2. This workover involves a cement squeeze on a lower formation which will in fact prevent salt water from entering the Viola reservoir. Oil production should increase two to three fold with this procedure. Other Thompson wells in adjacent leases have produced in excess of 22,000 barrels. The adjacent wells have not been subjected to the salt-water intrusion encountered in #2.

Precision Petroleum continues to evaluate all of its 26 leases in Oklahoma and will embark on recovery maximization of these oil and gas reservoirs with the application of superior production techniques and engineering solutions.