SHAWNEE, OKLAHOMA--(Marketwire - Oct. 2, 2012) - Nitro Petroleum Inc. (OTCBB:NTRO) is pleased to provide the company's second quarter financials ending July 31, 2012 for your review.
Financial conditions and results of operations for the second quarter ending
July 31, 2012
The company had oil and gas revenue of $206,858 as compared to $85,107 for the first quarter ended April 30, 2012. This increase of oil and gas was primarily due to the Quinlan project being completed.
The company experienced an increase in operational expenses resulting from the wild fire and completion work of the Quinlan project. We are currently estimating the repair cost to be in the $250,000 range. The Quinlan 1 and 2 wells are currently producing and the salt-water disposal system is up and running. We are currently working on the Quinlan #3 as a result of the fire.
Nitro Petroleum Inc.
To view the Financial Statements, please click the following link: http://media3.marketwire.com/docs/Nitro1002.pdf