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Superior's Plan for Growth and Prosperity

Superior Oil and Gas Co. has undergone a top-to-bottom reorganization as it re-enters the oil and gas exploration and development business in Oklahoma.
These are exciting times. With the advent of horizontal drilling, north central Oklahoma wells are flowing oil and natural gas at rates not seen in years. Geologists predict blanket production across more than 20 contiguous Oklahoma counties at moderate depths. Superior’s new team is a world class professional and experienced team with regard to this type of directional drilling.
At the heart of this development is the Mississippi Limestone horizontal play. Superior owns and controls, or has options on, tens of thousands of acres of oil and gas leases, as well as owning nine existing well bores in this play. The price of oil and gas leases in this play has leaped from $100 an acre to $1,000 an acre. The prices are climbing steadily as new wells are drilled and more acreage gets proven for horizontal drilling. The largest oil and gas producers that initiated this drilling play have purchased leases that completely surround our existing well bore leases. We consider our locations for drilling horizontal wells to be among the best locations in the entire state.
The Oklahoma Mississippian play should provide a high return on investment and a rapid return of capital. With regard to risk, Superior also has existing and past vertical production that provides the necessary “well control” as a foundation for successful horizontal drilling by ensuring that “dry hole” or geological risk is virtually nil.
Recapitalization of the company is under way. Led by a new chief executive officer, Dan Lloyd, Jr., the son of Superior's founder, together with a group of well-seasoned officers, directors and consultants, Superior is poised to commence new horizontal drilling as early 2012.
Our quest is to achieve a dominant position in our area of interest. We believe our current foundation in the Mississippian play together with our expansion capabilities will make this a reality going forward.