Penny Stocks KKPTKOKO Petroleum, Inc.: Drilling Progress at the Corsicana Flood Project

March 17, 2006--KOKO Petroleum, Inc. (PINK SHEETS Penny Stocks:KKPT message board, news, dd, quote) has now completed two wells. The wells have now been equipped for production. The first two days resulted in the recovery of water from the formation and the oil cut (percentage of oil to water) has now increased substantially. The water should be eliminated within a few days. Production tanks and separator are being installed.

The drilling contractor has near completed the third well and has committed to drill eleven wells in succession over the next five weeks.

This will complete the initial drilling stage of the polymer flood project. Core samples from the wells will be sent to the engineering firm in Denver, Colorado for analysis and recommendations as to the optimum recovery procedure. Subsequent to the engineering study, the injection equipment will be installed and the flood will commence.

Ted Kozub, President stated that, "...the wells will produce without enhancement, however, the big upside that we are in pursuit of is that a successful injecting polymer flood would have a major impact on oil recovery..."