Alaska Pacific Energy Corp Enters Agreement with Black Gold Energy

Alaska
Pacific Energy Corp Enters Agreement with Black Gold Energy

Miami
Fl. May 17, 2013. Alaska Pacific Energy Corp. (PINKSHEETS: ASKE) announced this
morning that it has issued has entered into a consulting landman agreement
Black Gold Energy. The terms of the agreement call for Black Gold Energy
President Jack W. Holmes and his associates and staff to act as a Land Man for
Alaska Pacific. Specifically Jack and his team will evaluate the various
acquisition opportunities that the company is and will consider. Additionally
the team will search for and bring deals to the company for acquisition.

Until
now the company has been outsourcing this work on a case by case basis. “This
process has proven to be too slow to get the job done” said Alaska Pacific
Energy President Dominick Falso. “I believe that this will help us close some
deals…more importantly this move will help us feel comfortable that we are
getting the right deal…the right value.”

Black Gold Energy is a Louisiana based
oil and gas acquisition company. Mr. Holmes and partners have over three
decades of experience in the oil and gas industry. Black Gold Energy owns and
manages minerals and royalties in approximately 500,000 acres with more than
2,500 producing oil and gas wells across the United States. Mr. Holmes
indicated that he is “very excited and optimistic about the working with Alaska
Pacific Energy.”

“We are very close to getting the funds
that we need for the Eagle Ford Shale property that I have been talking about”
continued Mr. Falso. “The funders simply needed some answers to due diligence
questions that require someone with Jack’s experience to handle. There are
conference calls/meetings scheduled within immediate future that should button
up this deal as well as possibly one or two more. Everything seems to take
longer than we would like but I am very enthusiastic about the progress…I will
keep you posted.”

Safe
Harbor Statement: This release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934 that are based upon assumptions that
in the future may prove not to have been accurate and are subject to
significant risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed from time
to time in reports filed by the company with the Securities and Exchange
Commission. Although the company believes that the expectations reflected in
its forward-looking statements are reasonable, it can give no assurance that
such expectations or any of its forward-looking statements will prove to be
correct. Factors that could cause results to differ include, but are not
limited to, the company’s ability to raise necessary financing, retention of
key personnel, timely delivery of inventory from the company’s contract
manufacturers, timely product development, product acceptance, and the impact
of competitive services and products, in addition to general economic risks and
uncertainties.