SOURCE: PACO Oil & Gas Inc.

April 24, 2008 17:05 ET

PACO Oil & Gas Inc. Invests in Texas-Based Oil Company

SHERMAN, TX--(Marketwire - April 24, 2008) - PACO Oil & Gas Inc. (PINKSHEETS: POGC) (FRANKFURT: 4IP) -- an exploration company focused on purchasing under valued oil and gas leases -- announced today that the company has made an initial investment into a junior Oil and Gas company in Texas. The mezzanine investment into the Texas-located company includes an option for PACO Oil & Gas to increase its position and retain a long term interest in the oil leases held at present. The Texas-based junior Oil and Gas company is currently producing in excess of 60 bbls of oil per day. Management will provide updates on these leases as they become available.

About PACO Oil & 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 & Gas Inc.