Xtreme Oil & Gas, Inc. declared third quarter and nine month financial results for the period ended September 30, 2011.

“Throughout the third quarter and first nine months of 2011, management has been dedicated to building a strong foundation of growth for the fourth quarter and beyond,” stated Willard G. McAndrew III, CEO of Xtreme Oil & Gas, Inc. “We now have the capital to expand our drilling operations into Kansas, enhance our saltwater disposal well, and move our West Thrifty Fry Sands, Ellenberger Wells and Hancock into production and continuing to produce the Robinson well into production. Going forward, management remains committed to our long term growth strategy and to building shareholder value.”

Mr. McAndrew III continued, “In addition to completing our oil projects in Texas and Oklahoma (we have already begun recovering oil from these sites) we are mobilizing a drilling rig into Kansas for the first of two wells to be drilled. The Company experienced success in our high-margin saltwater disposal business by signing LOIs for up to 15,000 barrels of saltwater per day from AMEREX and Southern Wellhead. With newly drilled sites producing returns on investment and management moving towards large scale commercialization of our saltwater disposal operations, we expect that 2012 will generate expanded margins, increased top line revenue and strong earnings. Additionally, management recently received a third party private valuation that concluded Xtreme was worth over $102 million. The valuation was performed using several methods including discounted cash flow, price to earnings based on market comparable data and book value. Recent operational achievements coupled with the numerous opportunities that lay ahead, position us to become a market leader within the independent energy market.”

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