SOURCE: Pacific Energy & Mining Company

May 30, 2007 06:30 ET

Pacific Energy Announces Completion of Land Sale

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.

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