NTRO-Great Stock

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Company Overview
Nitro Petroleum, Inc. (OTCBB: NTRO)

Nitro Petrolum is a publicly traded growth oriented oil and gas exploration company. Their focus is on the upstream component of the exploration and production of natural resources. Nitro Petroleum has two primary strategies:

o Continued development of joint venture properties in highly productive area.

o Redevelopment of mature fields through the innovative use of technology.

Oklahoma is one of the major oil-producing States in the Country, with an annual production typically accounting for more than 3% of total U.S. production in recent years. Crude oil wells and pipeline systems are concentrated in Central Oklahoma, although drilling activity takes place in the panhandle. One of the is one of the 100 largest oil fields in the United States is found in Oklahoma. The city of Cushing, in Central Oklahoma, is a major Crude oil trading hub that connects Gulf Coast producers to Midwest refining markets.

NITRO Petroleum Inc. is a growth orientated, oil and gas Exploration Company. That focuses on the upstream component of the exploration and production of natural resources. The Company has two primary strategies: the continued development of joint venture properties in highly productive areas, and the redevelopment of mature fields through the innovative use of technology.

Barnett Shale Joint Venture

The Barnett Shale field is the largest natural gas play in the continental United States producing 900 MMCF of gas per day and is considered one of the few domestic areas with sizable, remaining resource potential. Nitro Petroleum is seeking to fund the development of a Barnett Shale Project in which NITRO will obtain working interests and become the operator of all existing and future wells. This Barnett Shale project has demonstrated successful drilling and production record in the area.

In January of 2003, a privately held Fort Worth-based energy company (REO Energy) began acquiring Barnett Shale leases with the intent to commence drilling operations on its acquisitions. The current value for this acreage has been estimated to be as high as $10,000 per acre with total proven reserves of approximately 450 billion cubic feet of gas (BCF). Morgan Stanley developed an in-depth sector report on the Barnett Shale and estimated that reserves in the area could be as high as 150 BCF per 1,000 acres. Due to these estimations and our research, we will continue to focus their efforts to continue developing an acreage position through on-going drilling programs which can provide proven reserves in excess of 200 BCF.

REO Energy has spent more than $12 million to acquire the above mentioned mineral interests, which now total almost 7,000 acres, fund its portion of the drilling interests in existing wells and build a pipeline to service their acreage. NITRO/REO are seeking $15 million to fund the expansion of this Barnett Shale Project. Currently, there are 24 wells operating and connected to existing pipelines, five wells that have been drilled and awaiting completion and one well currently being drilled. This funding will allow NITRO/REO to acquire additional leasehold interests and drill wells on the current and newly acquired acreage. NITRO is proposing an initial equity raise of $15 million to further the development of this project with hopes of expanding the play to ultimately accommodate 300 wells.

Barnett Shale History
The first Barnett Shale wells were drilled and completed in the early 1980