SOURCE: PACO Oil and Gas Inc.

October 10, 2007 16:43 ET

PACO Oil and Gas Inc. Announces Trading Symbol and Oklahoma Oil and Gas Lease Acquisition

SHERMAN, TX--(Marketwire - October 10, 2007) - PACO Oil and Gas Inc. (PINKSHEETS: POGC), an exploration company focused on purchasing under valued oil and gas leases, announced today that the Company will trade under the symbol POGC.

The Company also announced that it has acquired 24 oil and gas lease wells located in the state of Oklahoma. Oklahoma has been the pinnacle exploration area for oil and gas since the late 1800s, the area is home to many of the top producing oil companies for over 100 years. The average Oklahoma oil well now produces about twenty barrels per day, and the state's consumption of petroleum products is about 50 percent greater than its production of crude oil. PACO Oil and Gas will release details of its development strategy on the Oklahoma-based wells as soon as all regulatory requirements are complete.

About PACO Oil and Gas Inc.

PACO Oil & Gas Inc. is an exploration company focused on purchasing under valued oil and gas leases with little or no production in the United States. Its experienced technical team then increases the leases' production thereby significantly increasing the value.

PACO Oil & Gas concentrates its efforts developing under valued well communities into micro scale production facilities. These working assets have all been refurbished and outfitted with the latest in oil recovery equipment. Since many of these assets are shallow wells, former owners were technically unable to reach deeper deposits. PACO has the technical team to go further and more efficiently.

Forward-Looking Statements

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact Information

  • Contact:
    Librada Thomas
    PACO Oil and Gas Inc.