YUKON, Okla., May 11, 2006 (PRIMEZONE) -- Superior Oil and Gas Co. (OTCBB:SIOR), an oil and gas exploration and development company, has contracted with Red River Energy, Inc. (formerly named Briscoe Drilling Company) of Kingfisher, Oklahoma, for two drilling rigs to drill two wells in Oklahoma commencing in early July, announced Dan Lloyd, president of Superior Oil.
"We are delighted to be able to lease two rigs to be made available to us in less than 60 days," said Lloyd. "Drilling rigs are not easily available these days." The wells are to be drilled to depths of approximately 10,000 feet, one in Kingfisher County and the other in Blaine County, Oklahoma.
Superior Oil and Gas Co. is an oil and natural gas company engaged in exploration and development activities in the U.S. Southwest and in Canada.
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.