SOURCE: Pacific Oil Co

Pacific Oil Co

April 24, 2014 08:45 ET

Pacific Oil Company Provides Update on Previously Announced Financing

LAS VEGAS, NV--(Marketwired - Apr 24, 2014) - Pacific Oil Company ("Pacific Oil") (OTC: POIL), is pleased to provide the public with an update regarding its previously announced efforts to secure $1,000,000 in financing. Working through the Herman Companies Inc. Pacific Oil has already received a letter of interest stating that Pacific Oil meets the criteria for up to $2,000,0000 in financing and that additional capital is available should it be required. Pacific Oil is currently awaiting two more offers of financing and intends on moving swiftly towards a decision to secure this capital that will be used to accelerate growth.

Ed Loven, Vice president of Pacific Oil, said, "So far the response from financial providers has been positive. We have an offer in hand, two more on the way and are confident in our ability to close a transaction on an expedited time table. I think it is important for the public to know that this financing is in no way a necessity for us to continue to grow. It does however provide us with the opportunity to grow at a much faster pace. Pacific Oil has already identified a number of acquisition targets that will put this money to good use."

Pacific Oil would like to remind the public that this financing mechanism is isolated from Pacific Oil's public market presence. No shares will be issued and no shares will be put up to collateralize the loan, as the financing Pacific Oil is seeking is pure debt financing based on the value of the company's assets.

About Pacific Oil Company:

A Nevada based corporation, Pacific Oil Company is a dynamic junior energy company with both 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 fully understands that a balance must be struck between short term profitability, increasing net asset value and the long term growth that rewards early shareholder.

Pacific Oil operates under the notion that operational efficiency achieved through the minimization of administrative overhead is of the upmost importance if costs are to be kept under control and profits maximized for investors. 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