First Petroleum Expands Colorado Oil & Gas Lease Program

First Petroleum & Pipeline has secured the rights to its second Federal Oil & Gas Lease in the Uinta-Piceance Basin in Western Colorado. This is the second lease purchase in Colorado's Mesa County and the Company's third Federal Oil & Gas Lease acquisition to date in Colorado.

Mesa County is located in one of Colorado's most active drilling regions. The U.S. Geological Survey estimates there is upwards of 21 trillion cubic feet of undiscovered natural gas and 60 million barrels of undiscovered oil in the Uinta-Piceance Province of Colorado and Utah. This is one of the largest natural gas reserves in the U.S.

The Company's core strategy is to focus on proven and producing oil and gas regions such as the Uinta-Piceance Basin and surrounding areas. First Petroleum believes in reducing exploration and development risks in order to provide a better return for the company and shareholders.