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U.S. Petroleum Corporation Announces Agreement with Wildhorse Operating Company.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 9, 2002

U.S. Petroleum Corporation (Pink Sheets: USPT) has entered into an agreement with Wildhorse Operating Company relating to oil and gas prospects in the State of Oklahoma.

Under the agreement, Wildhorse Operating Company will grant to U.S. Petroleum Corporation overriding royalty interests of 1% on leases obtained by Wildhorse Operating Company with net revenue interests of 81.25% or less, overriding royalty interests of 1.5% on leases with net revenue interests of 81.25% to 87.5% and overriding royalty interests of 2% on leases with net revenue interests of 87.5% or better.

Further information on U.S. Petroleum Corporation is available at http://www.uspt.info

Some of the statements contained in this press release may discuss future expectations, projections of sales, results of operations, financial conditions or state other "forward-looking" information (as defined in Section 21E of the Securities Exchange Act of 1934). Such information can be identified by the use of "may," "will," "should," "expect," "anticipate," "estimates," "continue," or other similar words. These statements are subject to known and unknown risks; uncertainties and other factors that could cause actual results to differ materially from those contemplated by the statements. When considering such forward-looking statements, the reader should keep in mind these risk factors and their possible implications. U.S. Petroleum Corporation believes that the information contained in its press release was accurate as of its date of publication. U.S. Petroleum Corporation disclaims any obligation to update information it has released.
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Publication:Business Wire
Date:Dec 9, 2002
Words:257
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