Pacific Oil Company Increases Offer to Include an Additional Four Producing Wells on Adjacent Property
March 04 2014 - 7:30AM
Marketwired
Pacific Oil Company Increases Offer to Include an Additional Four
Producing Wells on Adjacent Property
LAS VEGAS, NV--(Marketwired - Mar 4, 2014) - Pacific Oil Company
("Pacific Oil" or the "Company") (OTC: POIL), announced today
that it increased its previously announced offer to purchase
producing heavy oil wells to include an additional four producing
wells located on an adjacent property. Including the additional
four wells, the Company's offer is now to purchase a total of
sixteen producing heavy oil wells located in Maidstone,
Saskatchewan, Canada. The initial purchase offer was announced on
February 11, 2014.
Ed Loven, Vice president of Pacific Oil, said, "These four
wells represent 35-40 barrels per day of additional production.
Having our wells concentrated in such close proximity is an
operational plus as it increases efficiency and reduces production
costs per barrel. We like the Maidstone area, we like heavy oil and
we like the price at which these assets can be acquired."
About Pacific Oil Company:
Pacific Oil is a dynamic junior energy company with assets and
production within the energy rich province of Saskatchewan, Canada.
The Company's strategy is to grow rapidly through low risk
acquisitions, as well as through further development of existing
properties. Pacific Oil's management believes that a balance must
be struck between short term profitability and long term growth.
Tight cost control is maintained in order to maximize both
operational efficiency and shareholder value. Capital
expenditures are carefully scrutinized to minimize risk and
maximize value-added.
Forward-Looking Statements This news release contains
"forward-looking statements" as that term is defined in Section 27A
of the United States Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. Statements
in this press release which are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
new projects and development stage companies. These forward-looking
statements are made as of the date of this news release, and the
company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although management believes that any beliefs, plans, expectations
and intentions contained in this press release are reasonable,
there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in the company's
annual report on Form 10-K for the most recent fiscal
year, quarterly reports on Form 10-Q and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission
CONTACT: Pacific Oil Company Ed Loven 1 888 303 2272 ir@poil.us
10120 W. Flamingo Rd., #4 - 240 Las Vegas, NV 89147 USA
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