Precision Petroleum Finalizes Analysis on Ok. Prospect

Precision Petroleum is finalizing a technical analysis of the Booch Sandstone drilling prospect in Seminole County, Oklahoma.

Pending a positive result from this study, Precision intends to purchase a working interest in the current drilling program proposal from HoCo, the operator of the Booch Sandstone.

The prospected target, Tyler No. 1 is located in the northeast quarter of Section 33, T9N-R7E. This spud location is adjacent to the established Booch Sandstone well producing high gravity crude from the Sandstone at 3,500 feet.

A renewed vitality has been introduced for the completion methods adopted for this type of Sandstone geology. This innovation involves a pressurized injection with oil base fluids. This procedure has offered multiple areas of investigation and enhanced oil accumulations at a relative low developmental cost.

Porterfield further stated that a successful Tyler No. 1 will afford Precision an opportunity to participate in multiple Tyler offsets. The potential entry by Precision into this Booch Sandstone play will certainly compliment Precisions existing 18 producing leases in the various Oklahoma oil basins. Porterfield also mentions that these Tyler leases have access to all the necessary infrastructures for power, water, storage and delivery.