YUKON, Okla., March 15, 2006 (PRIMEZONE) -- Superior Oil and Gas Co. (OTCBB:SIOR), an oil and gas exploration and development company, announced today that it has entered into an agreement to acquire Williams Equipment Company of Oklahoma City, one of the larger independent oil and gas field equipment suppliers in the Southwest United States, in exchange for common stock of Superior.
"Superior is an exciting young company with tremendous potential for growth," stated Bill Schones, Owner and President of Williams Equipment Company. "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 Company is completed.
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.