SOURCE: Pacific Energy & Mining Company

September 25, 2006 06:15 ET

Pacific Energy & Mining Company Appoints New Officers

RENO, NV -- (MARKET WIRE) -- September 25, 2006 -- Pacific Energy & Mining Company (PINKSHEETS: PEMC) announced the appointment of the following new officers and directors:

Jerry Kumar             President and Director
Dan Green               Secretary and Director
Mobashir Ahmad          Vice President Exploration
Jerry Kumar has over 30 years experience in insurance, satellite television and cable TV. Mr. Kumar brings his experience in major industries to Pacific Energy. Prior to Joining Pacific Energy, Mr. Kumar was a director of CF Green Corp., a public company.

Dan Green is a Mineral Engineer who graduated from the Colorado School of Mines with over 25 years experience in the oil and gas business, electronic systems and mining. Mr. Green was the President of CF Green Corp., which merged with Ecosafe Systems USA Inc. During his career Mr. Green has worked on oil and gas fields in Utah, Texas, Colorado and Kansas and mining projects overseas. Additionally, he has over 25 years experience with publicly traded companies holding positions as Director, Chairman, Vice President and CEO.

Mobashir Ahmad has over 20 years experience in the mineral industry. Mr. Ahmad graduated from the Colorado School of Mines with a degree in Geophysical Engineering and received his Masters of Science in Metallurgical Engineering from the University of Nevada. Mr. Ahmad was the Mines Manager for Pakistan Chrome Mines Ltd.

Pacific Energy & Mining is a diversified company with oil and gas interests in Utah through its 50% ownership in Colorado Utah Natural Gas, Inc. (www.coloradoutahgas.net) Pacific Energy also owns a 7% working interest in the Brennan Bottoms Oil Field in Uintah County, Utah, and a 50% revenue interest in the Cisco Springs Oil Field in Grand County, Utah.

The Company owns a 16.67% interest in Mar/Reg Investments, a General Partnership, through which it holds working interest in oil wells in Altamont Bluebell Oil Field in Utah and working interest in numerous non-operated wells in Oklahoma.

Oil and Gas Reserves

Pacific Energy & Mining Company's net reserves are estimated 8.85 billion cubic feet of natural gas equivalent reserves. The Company acreage in Uintah County contains an estimated 40 million barrels of oil in place. Currently there are 4 oil wells in production. The company will participate in the drilling of the fifth oil well in Brennan Bottoms Field. The target depth of the well is 7200 feet to produce oil from the Greenriver formation. Questar is the largest lease owner in the area.

Pacific Energy also owns 80% of the outstanding shares of Pakistan Chrome Mines Ltd., a mining company with interests in over 34,000 acres of chromite and magnesite leases in Baluchistan, Pakistan. The leases contain an estimated 4 million tons of chromite and magnesite.

Through Pacific's equity interest in Satview Broadband Ltd., Pacific is participating in the cable television industry.

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.

Contact Information

  • Contact Information:

    Dan Green
    310 418 1329