|By Marketwired .||
|January 3, 2014 10:28 AM EST||
SHAWNEE, OKLAHOMA -- (Marketwired) -- 01/03/14 -- Nitro Petroleum Inc. (OTCBB: NTRO) has just attained a Working Interest in a well named the Elmo #2 with a proposed spud date of 1-8-2014. The well is located in the W/2 of the SE of the SW/4 of Section 8-T16N-R2E in Lincoln County, Oklahoma. The well is a shallow venture with the target formation being the Osage-Layton Sand with a proposed drilling depth of 3,600'. This is an established Osage-Layton Sand Field with excellent offset production located 40 acres just to the northwest of the proposed location with production from the offset accumulating over $2,000,000 in a mere 8 month production period. Walker Brothers Drilling Company will be moving in to drill the Elmo #2 January 4, 2014. We will keep you posted on the drilling progress.
James Lanshe, President
Nitro Petroleum Inc.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Nitro Petroleum Inc.