Proper Power Receives Proposal for New Acquisition

TAMPA, Fla., Dec. 8, 2010 /PRNewswire-FirstCall/ -- Proper Power & Energy, Inc. (OTC Bulletin Board: PPWE) announced today that it will issue a letter of intent to proceed with the acquisition of additional oil and gas leases in Kentucky.  The Company has received an extensive written proposal from Hunter Resources that includes the acquisition of leased land in Eastern Kentucky. The new field currently consists of approximately 1800 acres of land, primarily gas with good potential for crude as well.  The acquisition will include nine existing wells with plans to drill additional horizontal wells. 

Preliminary engineering reports demonstrate the existence of approximately 32 million dollars of natural gas.  The project will allow for the expansion into a total of 5,000 acres in the future.

"As we set out in our open letter to our shareholders earlier this year, we are expanding our holdings and operations into the Kentucky region with strategic acquisitions," stated Proper Power CEO, Joseph Abdo.  "As we finalize our Burns acquisition, this lease is a natural follow-up with continued expansion."

About Proper Power & Energy:

Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas.  The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.  

Safe Harbor Statement:

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

SOURCE Proper Power & Energy, Inc.