SOURCE: Pacific Oil Co

Pacific Oil Co

March 19, 2014 10:15 ET

Pacific Oil Company Announces Spring Workover on 9600 Acre Lacadena Natural Gas Project

LAS VEGAS, NV--(Marketwired - Mar 19, 2014) -  Pacific Oil Company (OTC: POIL), a dynamic junior energy company with both established assets and production within the energy rich province of Saskatchewan Canada, is pleased to announce that it has begun its scheduled spring overhaul of the company's Lacadena natural gas asset. The entire project is being revamped with the goal of producing higher revenues through greater efficiency, lower operating costs and traditionally higher natural gas prices.

Vice President Ed Loven states, "We believe that with Gas prices consistently higher than last year and before the season changes and road bans are put in place for 'spring break up,' now is the time to address the wells that are not currently in the system will need to be tied in; wells with greater potential will be activated and wells that no longer perform to Pacific's standards will be abandoned."

All indications are that by doing the maintenance and optimization procedures now, Pacific Oil stands to increase its top and bottom line growth as it relates to the project as a whole.

"We firmly believe we have the right people in place to get the job done right the first time and as a company we look forward to enhanced revenues moving forward into the fall season," adds Loven.

It is important to note that the company's Lacadena Project asset consists of 9600 Acres of Oil & Gas Property within the Western Canadian Sedimentary basin. During this strategic overhaul, the Team at Pacific Oil will be further refining geological data with the goal of identifying multiple new drill locations.

As of today the company has already begun the first step in the operational process and has shut in all natural gas wells for the current work over and rejuvenation of the existing wells. As progress is made on the property we will update the general public via news release as to our advancements.

About Pacific Oil Company:

A Nevada based corporation, Pacific Oil is a dynamic junior energy company with assets and production within the energy rich province of Saskatchewan, Canada.

The Company's strategy is grow rapidly through low risk acquisitions, as well as through further development of existing properties. Pacific Oil's management believes that a balance must be struck between short term profitability and long term growth.

Pacific Oil's management maintains tight cost control through minimization of overhead and other costs in order to achieve operational efficiency and maximization of shareholder value Capital expenditures are carefully scrutinized to maximize value-added and minimize risk.

Forward-Looking Statements This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although management believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the company's annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • CONTACT:

    Pacific Oil Company
    Ed Loven
    1 888 303 2272
    ir@poil.us

    10120 W. Flamingo Rd., #4 - 240
    Las Vegas, NV 89147
    USA