SOURCE: PACO Oil and Gas Inc.

February 18, 2009 14:17 ET

Paco Oil and Gas Inc. Appoints New Company President -- Moves Corporate Head Offices

HOUSTON, TX--(Marketwire - February 18, 2009) - Paco Oil and Gas Inc. (PINKSHEETS: POGC) (FRANKFURT: 4IP) -- as part of the corporation's recent amalgamation and re-organization the board of directors have appointed Mr. Frank Snortheim as Paco Integrated Energy's new president. Mr. Snortheim holds a M.Sc. Finance from Copenhagen Business School and further executive education from INSEAD, Fontainebleau, France. In addition, the newly appointed company president brings an experienced background in energy, technology, venture capital and investment banking with major financial institutions here and abroad.

The company will also utilize outside technical and financial consultants to assist management reviewing potential investment and divestment opportunities to control costs.

Paco Oil and Gas Inc. also announced the relocation of its head office to Houston, Texas.

17 South Briar Hollow Lane
Houston, Texas
Office : 281-818-3450
European Offices: 11 45 204 19750

Management has begun the process of changing the company name to Paco Integrated Energy Inc. and expects to have this process completed by early March 2009.

About Paco Oil and Gas Inc.

Paco Oil and Gas Inc. is an exploration company focused on purchasing under valued oil and gas leases with little or no production in the United States. Its experienced technical team then increases the leases production thereby significantly increasing the value.

--  Paco Oil and Gas concentrates its efforts developing under valued well
    communities into micro scale production facilities. Paco will acquire oil
    and gas asset with proven past production history and proven reserves
    behind pipe to minimize initial investment risk.
--  Paco will further build a comprehensive network of oil and gas
    professionals to be part of the team to evaluate future investment, and
    divestment projects and ongoing focus on low cost efficient operations.

These working assets have all been refurbished and outfitted with the latest in oil recovery equipment. Since many of these assets are shallow wells, former owners were technically unable to reach deeper deposits. Paco has the technical team to go further and more efficiently.

Forward-Looking Statements

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact Information

  • Contact:
    Frank Snortheim
    Paco Oil and Gas Inc.