SOURCE: Pacific Energy & Mining Company

Pacific Energy & Mining Company

November 19, 2010 06:00 ET

Pacific Energy Announces the Successful Completion of Johnson Bottom Horizontal Well

RENO, NV--(Marketwire - November 19, 2010) - Pacific Energy & Mining Company (PINKSHEETS: PEMC) announces the successful completion of the JB 8G 21-7-21 delineation well at the Johnson Bottom Unit in Uintah County, Utah. The well was completed and placed on production during the month of September 2010.

QEP Energy Inc. is the operator of the unit. The well was completed with two horizontal legs. All information on the well is confidential. The Johnson Bottom Unit is approximately 6,000 acres with two delineation wells drilled. Based upon the results of the wells additional development wells will be drilled.

Cisco Oil and Gas Field

Pacific Energy has placed on production three oil wells and is in the process of evaluating three additional wells to place on production. Currently, Pacific Energy has seven oil wells and one gas well on production. Six natural gas wells are awaiting a pipeline connection.

About Pacific Energy

Pacific Energy owns interests in the Greater Cisco Oil Field, the Brennan Bottom Oil Field, the Johnson Bottom Unit and Cedar Rim Oil Field. Pacific Energy Operates oil wells in the Greater Cisco Field and the Greentown Fields in Grand County, Utah.

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:
    Worldwide Financial Marketing, Inc. USA
    Investor Relations
    Int'l 1 954 360 9998
    US 866 360 9998