2009-02-27-2009-01-28-2009-01-30

Bought 50% interest in MT Powder River Basin project.

Precision Petroleum Corp., Oklahoma City, (OTCBB: PPTO) plans to acquire 50% of a new venture in the Powder River Basin project in southern Montana from Nitro Petroleum Corp., Oklahoma City, (OTCBB: NTRO) for an undisclosed price. The assets involve Marus Snyder Oil Field, Soap Creek Oil Field, and Hardin Gas Field. The initial project (Phase I) is scheduled to be started by late spring or early summer with the drilling of 10 exploratory wells consisting of 1,600 acres. With a successful completion within a 160-acre unit, an opportunity to drill up to three more wells is allowed to optimize offset potential. After the initial 10 wells are drilled, commensurate with production, Precision has the option of entering into two additional 10-well drilling phases.