Precision Petroleum Corp., Oklahoma City, (OTCBB: PPTO) has acquired an interest in Karsyn #1, a producing Hunton limestone well in Seminole County, Okla. Neither the sellers identity nor financial terms of the transaction were identified.

The Seminole field, which is west of Karsyn #1, is one of Oklahoma's major producing oil fields. Karsyn currently produces from the Hunton, with the Calvin sandstone behind pipe.

Precision president and petroleum geologist Richard Porterfield says, With oil prices at $60 per barrel or better, the strategic acquisitions by the company are on target to provide the company with substantive cash flows which will enable further exploration and development for enhancement of reserves.