SOURCE: Pacific Energy & Mining Company

July 18, 2007 06:30 ET

Pacific Energy & Mining Company Releases Financials

RENO, NV--(Marketwire - July 18, 2007) - Pacific Energy & Mining Co. (PINKSHEETS: PEMC) is pleased to announce financial results:

For the 9 months ending June 30, 2007, Pacific Energy had net income of $627,786.78.

                    Pacific Energy & Mining Company
                            Balance Sheet
                            June 30, 2007
                             (Unaudited)
                                               June 30, 2007
ASSETS
TOTAL ASSETS                                    9,622,559.52
                                                ============
LIABILITIES & EQUITY
        Total Liabilities                         441,676.94
        Total Equity                            9,180,882.58
                                                ------------
TOTAL LIABILITIES & EQUITY                      9,622,559.52
                                                ============


                  Pacific Energy & Mining Company
                         Income Statement
                  September 1, 2006 - June 30, 2007
                            (Unaudited)
                                        Sep. 1, '06 - June 30, '07
Ordinary Income/Expense
        Oil sales                                  28,579.40
        Total Expense                              84,135.33
                                                ------------
Net Ordinary Income                               (55,555.93)
Other Income/Expense
        Interest Income                             1,511.60
        Other Income                              681,831.11
                                                ------------
Net Other Income                                  683,342.71
                                                ------------
Net Income                                        627,786.78
                                                ============
Shares Outstanding:                               23,654,287
Earnings per share                              $     0.0265
                                                ============

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 for detailed information.

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:

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