Pinnacle Energy Corp., an independent oil and gas producer, has secured rights to additional acreage adjacent to the company's Glencoe Prospect in Pawnee County, Oklahoma, USA. Pinnacle has the option to participate in up to a 25% working interest in the new 2,000 acre field, named Peppercreek 1.

The property lies adjacent to the productive Glencoe field, and the company believes that Peppercreek 1 extends the structural formation identified in the Glencoe property. Concurrent with operations on the existing Glencoe field, Pinnacle Energy plans to expand the current reserve report to include the newly acquired Peppercreek 1 acreage. This revised study should prove to increase the Company's probable and possible reserves while targeting additional drill sites. Drilling operations are expected to commence in 2009. With this acquisition, Pinnacle Energy has more than doubled its acreage position in the area, which has been consistently producing oil and gas for some time.

"Securing additional leases in the same area as our existing Glencoe prospect is a major strategic win," said Pinnacle Energy CEO Nolan Weir. "Our Glencoe field has been very productive, and has great future potential. We anticipate that this newly acquired acreage is an extension of the structural trend identified in the Glencoe field - and because Peppercreek 1 is located immediately next to Glencoe, we are eager to move forward with our plans for exploration and extraction."

Tags: Pinnacle Energy Corp.