Pacific Oil Company Announces Spring Workover on 9600 Acre Lacadena Natural Gas Project
March 19 2014 - 10:15AM
Marketwired
Pacific Oil Company Announces Spring Workover on 9600 Acre Lacadena
Natural Gas Project
LAS VEGAS, NV--(Marketwired - Mar 19, 2014) - Pacific Oil
Company (OTC: POIL), a dynamic junior energy company with both
established assets and production within the energy rich province
of Saskatchewan Canada, is pleased to announce that it has begun
its scheduled spring overhaul of the company's Lacadena natural gas
asset. The entire project is being revamped with the goal of
producing higher revenues through greater efficiency, lower
operating costs and traditionally higher natural gas prices.
Vice President Ed Loven states, "We believe that with Gas prices
consistently higher than last year and before the season changes
and road bans are put in place for 'spring break up,' now is the
time to address the wells that are not currently in the system will
need to be tied in; wells with greater potential will be activated
and wells that no longer perform to Pacific's standards will
be abandoned."
All indications are that by doing the maintenance and
optimization procedures now, Pacific Oil stands to increase its top
and bottom line growth as it relates to the project as a whole.
"We firmly believe we have the right people in place to get the
job done right the first time and as a company we look forward to
enhanced revenues moving forward into the fall season," adds
Loven.
It is important to note that the company's Lacadena Project
asset consists of 9600 Acres of Oil & Gas Property within the
Western Canadian Sedimentary basin. During this strategic
overhaul, the Team at Pacific Oil will be further refining
geological data with the goal of identifying multiple new drill
locations.
As of today the company has already begun the first step in the
operational process and has shut in all natural gas wells for the
current work over and rejuvenation of the existing wells. As
progress is made on the property we will update the general public
via news release as to our advancements.
About Pacific Oil Company:
A Nevada based corporation, 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 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.
Pacific Oil's management maintains tight cost control through
minimization of overhead and other costs in order to achieve
operational efficiency and maximization of shareholder value
Capital expenditures are carefully scrutinized to maximize
value-added and minimize risk.
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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