YUKON, Okla., May 24, 2006 (PRIMEZONE) -- Superior Oil and Gas Co. (OTCBB:SIOR) has purchased 13 oil and gas leases from Hudson Resources Corp. in three Oklahoma counties, announced Dan Lloyd, president of Superior.
"Each of these leases offsets producing oil and natural gas wells owned by other companies," said Lloyd. "The production from the offsetting wells is from some of the best producing sands and zones in Oklahoma," he added.
The acreage purchased consists of eight leases covering 640 acres in Kingfisher County, one lease covering 320 acres in Canadian County and four leases covering 125 acres in Pushmataha County, Oklahoma.
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.