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Superior Oil and Gas Company and Robson Energy Oklahoma LLC Sign Working Interest Agreement on Four-Well Drilling Program in Garfield County, Oklahoma

Posted on: Wednesday, 23 August 2006, 15:00 CDT

Management Now Reviewing Requirements to Move to Nasdaq Small Cap or AMEX

Superior Oil and Gas Company (OTC BB: SIOR) provider of natural gas and crude oil, is pleased to report Robson Energy Oklahoma LLC of Edmond, Oklahoma is purchasing a 47.5 percent working interest in Superiors four-well drilling program located in Garfield County.

The wells to be drilled are 7,000-foot tests of seven zones that produce in the area of the Skinner, Misner, Mississippi, Oswego, and the principal target zones of the Wilcox 1, 2 and the Marshall. Management has also encountered the possibility of production in the Cleveland zone. A drilling permit will be filed this Friday.

Dan Lloyd CEO of Superior Oil and Gas stated, "It is an honor to enter into a working interest agreement with Robson Energy. We anticipate strong production from the drilling program, reinvesting cash back into the company and turning Superior Oil and Gas into a successful, aggressive, independent publicly traded company. We are now in the process of talking with brokers and are focused on moving to the NASDAQ Small Cap or AMEX in the near future."

For more information, please contact Investor Relations at (973) 351-3868 for Stephen Taylor.

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.

Source: Business Wire

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