Superior Set to Acquire Williams Equipment

Superior Oil and Gas, an Oklahoma-based oil and gas exploration and development company, announced today that it has entered into an agreement to acquire Williams Equipment, one of the larger independent oil and gas field equipment suppliers in the Southwest US, in exchange for common stock of Superior.

"Superior is an exciting young company with tremendous potential for growth," said Bill Schones, Williams' owner and president. "This acquisition will add value to both companies as we move forward with other projects."

The acquisition will be finalized when an audit of financial statements of Williams Equipment is completed.

Superior has executed agreements to purchase more than 28 gas wells in Kansas and continues to target other properties for acquisition.