YUKON, Okla., Feb. 3, 2006 (PRIMEZONE) -- Superior Oil & Gas Co. (OTCBB:SIOR), an oil and gas exploration and development company, today announced Superior sold 75% of the first of four potential oil and gas wells to Blue Quail Resources of Oklahoma City, Oklahoma. The potential oil and gas wells are to be drilled on the Lonesome River Project in Blaine County Oklahoma with the first well to be drilled at an estimated 10,000 feet to the Hunton Formation.
"Blue Quail Resources and their president Joe Gregory are well respected members of the oil and gas community," stated Dan Lloyd, C.E.O. of Superior Oil and Gas. "As Superior continues to grow, we will look to establish relationships with valuable companies such as Blue Quail."
About Superior Oil & Gas Co.:
Superior Oil & Gas Co., headquartered in Yukon, Oklahoma, is an oil and gas development company. Superior has executed agreements to purchase over 30 gas wells in Oklahoma and continues to target other properties for acquisition.
This Press Release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect," "anticipate," "estimate," "believes," "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Superior's ability to successfully acquire reserves and produce its resources among other issues. We undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.