YUKON, Okla., May 15, 2006 (PRIMEZONE) -- Superior Oil & Gas Co. (OTCBB:SIOR), an oil and gas exploration and development company, announced on April 6, 2006 that it had completed the acquisition of 28 natural gas wells in the Cherokee Basin, located near Southeast Kansas and Northeast Oklahoma, reported Dan Lloyd, CEO of Superior. The announcement was mistaken. The closing of the purchase did not occur as scheduled, due to the sudden, serious illness of a close relative of the seller's president, which caused the president to depart for South Carolina.
"We have no reason to doubt that the closing will occur. We anticipate closing the purchase before the end of the month," said 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.