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Pacific Energy Announces Completion of Land Sale
| Source: Pacific Energy & Mining Company
RENO, NV--(Marketwire - May 30, 2007) - Pacific Energy & Mining Company (PINKSHEETS : PEMC )
announces that it has completed the sale of its fee surface rights in
Cisco, Utah, for $310,000, while reserving oil, gas and mineral rights. In
addition, the company has the right to use 10 acres of the land for storing
its equipment for the next 5 years.
The sale of land does not have any effect upon the company's oil and
natural gas reserves. PEMC may use the proceeds from the sale for
additional development of its oil and gas reserves.
Pacific Energy & Mining is a diversified company that operates oil and gas
leases throughout Utah. It also has non-operated interests in Utah and
Oklahoma. The Company would also like to welcome all new shareholders
present or future to visit our website at www.pemc.us.
Disclaimer
The foregoing contains forward-looking information within the meaning of
The Private Securities Litigation Act of 1995. Such forward-looking
statements involve certain risks and uncertainties. The actual results may
differ materially from such forward-looking statements. The company does
not undertake to publicly update or revise its forward-looking statements
even if experience or further changes make it clear that any projected
results (expressed or implied) will not be realized.