UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities ~~and~~ Exchange Act of 1934

~~June~~Date 3of Report: April 19, ~~2009~~2013

(Date of ~~Report~~earliest ~~(date~~event ofreported) ~~Earliest~~April ~~Event~~18, ~~Reported)~~2013

PRECISION PETROLEUM CORPORATION

(Exact ~~Name~~name of ~~Registrant~~registrant as ~~Specified~~specified in its ~~Charter~~charter)

NEVADA		000-53199	71-1029846
Nevada	000-53199	71-1029846
(State or Other Jurisdiction of		(Commission File No.)	(I.R.S. Employer
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
Incorporation or Organization)			Identification No.)

~~6957~~624 N.W. ~~Expressway,~~Independence ~~#255~~Suite101, ~~Oklahoma City~~Shawnee, ~~OK 73132-3538~~Oklahoma 74804

(Address of principal executive offices) ~~and~~(Zip ~~zip code~~Code)

(405) ~~728~~273-~~3800~~9799

(Registrant’'s telephone number, including area code) ~~NOT APPLICABLE (Former name or former address, if changed from last report)~~

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ~~(see General Instruction A.2. below)~~:

¨o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Item~~o ~~5.02~~Soliciting ~~Departure~~material ofpursuant ~~Directors~~to orrule ~~Certain~~14a-12 ~~Directors;~~under ~~Election~~the ofExchange ~~Directors;~~Act ~~Appointment~~(17 ofCFR ~~Certain Officers~~240.14a-12)

~~Mr.~~o ~~Kirby~~Pre-commencement ~~has~~communications apursuant ~~broad~~to ~~palette~~rule of14d-2(b) ~~experience,~~under ~~from directly working within~~ the ~~oil~~Exchange ~~industry~~Act in(17 ~~the~~CFR early 1980’s to an extensive banking background beginning in 1984 working with such companies as The First National Bank of Shawnee, Bank One, Liberty Bank & Trust, Choctaw State Bank, The Republic Bank of Tecumseh and more240. He has held numerous positions within these companies from Vice President, Banking Center Manager and Compliance Officer. His banking experience has enabled him to work with a broad variety of business enterprises from oil companies to defense contractors and many more. He has helped new companies prosper and helped guide existing businesses to continued success. He studied banking at Seminole College and business at Oklahoma State University.14d-2(b))

~~From~~o ~~September~~Pre-commencement ~~1997~~communications pursuant to ~~present~~rule he13e-4(c) ~~has~~under ~~been~~ the ~~Vice~~Exchange ~~President~~Act of(17 ~~First~~CFR ~~National Bank of Shawnee~~240. ~~Mr. Kirby has also been a member of the Board of Directors of Nitro Petroleum Incorporated since 2007. Nitro Petroleum is a public company registered with the SEC.~~13e-4(c))

~~The~~Item ~~Company~~1.01. Entry ~~has not entered~~ into ~~any~~a ~~transaction~~Material ~~with~~Definitive MrAgreement. ~~Kirby that would be regarded as related party transactions.~~

~~SIGNATURE~~On April 18, 2013, Precision Petroleum Corporation (the “Company”) entered into a Licensing Agreement with Nefco Petroleum, LLC (“Nefco”), pursuant to which the Company obtained from Nefco the right to license, use and sublease to other users certain proprietary equipment and processes relevant to the “frackless” drilling and mineral extraction technology commonly known as Direction Frackless Technologies (“DFT Systems”) for an initial Term of ten (10) years.

Pursuant to the ~~requirements~~terms of the ~~Securities~~Licensing ~~and~~Agreement, ~~Exchange~~the ~~Act~~Company ofshall ~~1934,~~pay ~~the~~to ~~registrant~~Nefco ~~has~~a ~~duly~~five ~~caused~~percent (5%) royalty for the entire length of this ~~report~~Licensing toAgreement bewith ~~signed~~a onMinimum ~~its~~Guarantee ~~behalf~~of byUSD $125,000.00. All costs and any applicable taxes associated with the ~~undersigned~~DFT ~~hereunto~~Systems ~~duly~~and ~~authorized~~equipment shall be borne by the Company.

~~PRECISION~~Item ~~PETROLEUM~~9.01. Financial ~~CORPORATION~~Statements and Exhibits.

Date: June 3, 2009		By: /s/ Richard Porterfield
		Name: Richard Porterfield
		Title: President

(d)

Exhibits

10.1

Licensing Agreement dated April 18, 2013 by and between the Company and Nefco Petroleum, LLC

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PRECISION PETROLEUM CORPORATION

April 19, 2013	By:	/s/ Jim Graham
		Jim Graham, Chief Executive Officer

EXHIBIT INDEX

Exhibit No.	Description	Method of Filing

10.1	Licensing Agreement dated April 18, 2013 and between the Company and Nefco Petroleum, LLC	Filed herewith electronically

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