Pacific Oil Company Provides Update on Bid to Purchase 67 Oil Wells on 9 Canadian Heavy Oil Properties
11 Abril 2014 - 6:24PM
Marketwired
Pacific Oil Company Provides Update on Bid to Purchase 67 Oil Wells
on 9 Canadian Heavy Oil Properties
LAS VEGAS, NV--(Marketwired - Apr 11, 2014) - Pacific Oil
Company ("Pacific Oil") (OTC: POIL), is pleased to update the
public on its previously announced bid to purchase 67 oil wells on
9 Canadian heavy oil properties. Pacific Oil's all-inclusive bid
has been accepted by Grant Thorton LLC Trustee who will now submit
the offer to the Court of Queen's Bench for final approval and
acceptance.
Ed Loven, Vice president of Pacific Oil, said, "Provided final
approval from the courts is granted, this acquisition will
immediately increase Pacific Oil's revenue stream and asset base by
a meaningful amount which intern will dramatically increase the
overall value of our company as a whole. Pacific Oil looks forward
to further increasing and strengthening our operational foot print
in this energy rich area to the benefit of our shareholders and
will we continue to execute our growth strategy moving
forward."
Pacific Oil anticipates an expedited decision from the Court of
Queen's Bench and will update the public on the status of the
decision via press release.
About Pacific Oil Company:
A Nevada based corporation, Pacific Oil Company is a dynamic
junior energy company with both established assets and production
within the energy rich province of Saskatchewan Canada.
The company continues to add value and set the stage for rapid
success through low risk acquisitions and organic growth achieved
through further development of existing properties. Pacific Oil
fully understands that a balance must be struck between short-term
profitability, increasing net asset value and the long term growth
that rewards early shareholder.
Pacific Oil operates under the notion that operational
efficiency achieved through the minimization of administrative
overhead is of the upmost importance if costs are to be kept under
control and profits maximized for investors. All capital
expenditures must provide value and risk control must be present at
all times.
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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