YUKON, Okla., Feb. 9, 2006 (PRIMEZONE) -- Superior Oil and Gas Co. (OTCBB:SIOR), an oil and gas exploration and development company, today announced Superior received the LOA (Lloyds of America) permit for its gas pipeline permit from the United States Department of the Interior, Bureau of Land Management for its pipeline right-of-way in Rio Blanco County, Colorado. Superior is designing a 12-inch, 18-mile gas pipeline capable of carrying up to 30,000,000 cubic feet of gas per day with a $0.60 per thousand cubic feet of gas gathering fee.
"The announcement of this permit gives us another opportunity to create a revenue stream for our company," stated Dan Lloyd, CEO of Superior Oil & Gas Co. "We continue to execute our business model through this permit and the previous agreements to purchase gas wells. In addition, we are targeting other properties and hope to inform our shareholders regarding the specifics in the near future."
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 28 gas wells in Kansas 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.