SOURCE: Alaska Pacific Energy Corp.

May 20, 2013 07:48 ET

Alaska Pacific Energy Corp. Enters Agreement With Black Gold Energy

MIAMI, FL--(Marketwired - May 20, 2013) - Alaska Pacific Energy Corp. (OTC Pink: ASKE) announced on Friday that it has entered into a consulting land man agreement with Black Gold Energy. The terms of the agreement call for Black Gold Energy President Jack W. Holmes and his associates and staff to act as a Land Man for Alaska Pacific. Specifically Jack and his team will evaluate the various acquisition opportunities that the company is and will consider. Additionally the team will search for and bring deals to the company for acquisition.

Until now the company has been outsourcing this work on a case by case basis. "This process has proven to be too slow to get the job done," said Alaska Pacific Energy President Dominick Falso. "I believe that this will help us close some deals... more importantly this move will help us feel comfortable that we are getting the right deal... the right value... the better deals are not on the market very long... this move keeps us in the game for the money makers," Mr. Falso continued.

Black Gold Energy is a Louisiana based oil and gas acquisition company. Mr. Holmes and partners have over three decades of experience in the oil and gas industry. Black Gold Energy owns and manages minerals and royalties in approximately 500,000 acres with more than 2,500 producing oil and gas wells across the United States. Mr. Holmes indicated that he is "very excited and optimistic about the working with Alaska Pacific Energy."

"We are very close to getting the funds that we need for the Eagle Ford Shale property that I have been talking about," continued Mr. Falso. "The funders simply needed some answers to due diligence questions that require someone with Jack's experience to handle. There are conference calls/meetings scheduled within the immediate future that should button up this deal as well as possibly one or two more. Everything seems to take longer than we would like but I am very enthusiastic about the progress... I will keep you posted."

Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.

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