Pacific Asia Petroleum Announces Approval for NYSE Amex Listing
November 03 2009 - 11:00AM
Business Wire
Pacific Asia Petroleum, Inc. (OTCBB:PFAP), engaged in the
business of oil and gas development, production and distribution in
Asia and the Pacific Rim countries, announced today its common
stock has been approved for listing on the NYSE Amex. Trading is
expected to begin on November 5, 2009 under the new ticker symbol
PAP (NYSE Amex: PAP). Prior to that date, Pacific Asia Petroleum’s
shares will continue to trade on the Over-the-Counter (OTC)
Bulletin Board.
“Moving from the OTC Bulletin Board to the NYSE Amex is another
tremendously important milestone for Pacific Asia Petroleum,” said
President and CEO Frank C. Ingriselli. “We have always prided
ourselves on our conservative accounting, transparency and
corporate governance. Moving up to the NYSE Amex not only validates
these efforts, it provides us with greater visibility for our
company, more liquidity for our stock and the opportunity to
further expand our investor base. We believe that this move will
deliver more value for our shareholders now and down the road.”
“We welcome Pacific Asia Petroleum to NYSE Amex,” said Scott
Cutler, Head of Listings, Americas. “Pacific Asia Petroleum and its
shareholders will benefit from the superior market quality,
technology, and services provided by listing on NYSE Euronext
markets. Pacific Asia Petroleum is a welcome addition to our roster
of leading energy companies, and we look forward to a strong and
lasting partnership.”
About Pacific Asia Petroleum, Inc.:
Pacific Asia Petroleum,
Inc. engages in the business of oil and gas exploration,
development, production and distribution in Asia and the Pacific
Rim countries, with a specific focus on developing a broad range of
energy opportunities, including clean and environmentally-friendly
natural gas ventures, in China. The Company's executive offices are
located in Hartsdale, New York, and the Company also has offices
located in Beijing, China and California.
Forward-Looking Information
Statements
Some of the items discussed in this press release are
forward-looking statements about Pacific Asia Petroleum’s
activities. Words such as “anticipates,” “expects,” “plans,”
“projects,” “believes,” “seeks,” “estimates,” and similar
expressions are intended to identify such forward-looking
statements. The statements are based upon management’s current
expectations, estimates and projections, are not guarantees of
future performance, and are subject to certain risks, uncertainties
and other factors, some of which are beyond the Company’s control
and are difficult to predict. Among the factors are changes in
prices of, demand for and supply of crude oil and natural gas;
actions of competitors; results of additional testing; timely
development of production opportunities and acquired technologies;
the potential disruption or interruption of testing and development
activities due to accidents, political events, civil unrest, or
severe weather; government-mandated restrictions on scope of
company operations; general economic and political conditions; the
Company’s need and ability to obtain capital; the Company’s ability
to successfully consummate contemplated acquisitions, obtain
required government approvals, and integrate the acquired entities
and operations into the Company’s business; and other risks
described in the Company’s filings with the Securities and Exchange
Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Unless legally required, Pacific Asia undertakes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.