Superior Oil and Gas Co. Issues Correction to Release

Superior Oil and Gas Co. (OTCBB: SIOR) issued a press release yesterday, February 25, 2008, that incorrectly stated or implied that its Lonesome River A No. 1 Well had produced 360 million cubic feet of natural gas and 10,000 barrels of oil during the period that this well was under the ownership of Superior. That was incorrect. Superior only obtained ownership of this well earlier this month. At present this well is producing approximately 11 barrels of oil and 10,000 cubic feet of natural gas a day. Superior intends to fracture stimulate the zones that produced natural gas and oil while the well was under earlier ownership, announced Dan Lloyd, President of Superior Oil and Gas Co.

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.