SOURCE: Pacific Oil Co

Pacific Oil Co

April 07, 2014 08:45 ET

Pacific Oil Company Enters Into Agreement to Secure $1,000,000 in Financing

LAS VEGAS, NV--(Marketwired - Apr 7, 2014) - Pacific Oil Company ("Pacific Oil" or the "Company") (OTCQB: POIL) announced today that it has entered into an agreement with The Herman Companies Inc. to secure $1,000,000 in financing. Once secured, this financing will support Pacific Oil's business strategy through 2014 and expedite its previously announced acquisition schedule. 

Ed Loven, Vice president of Pacific Oil, said, "Having additional capital available to speed up both our announced acquisitions and operational efforts is a positive development for Pacific Oil and its shareholders. Besides accelerating current initiatives, a financing of $1,000,000 should provide us with further opportunity for growth while lowering our company's overall risk.

"The financing we are contemplating at this time is pure debt based on the value of our assets. Since no shares will be issued and no shares will be put up as collateral, the financing will be isolated from Pacific Oil's public market presence."

The Company also announced that it is current again in its SEC filings and thus has returned to fully reporting status.

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

The Company continues to add value and set the stage for rapid success through low risk acquisitions and organic growth achieved through further development of existing properties. Pacific Oil's management believes that a balance must be struck among short term profitability, increasing net worth and long term growth. Operational efficiency achieved through the minimization of administrative overhead is a key component of controlling costs and maximizing profits. All capital expenditures must provide value and risk control must be present at all times.

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