SOURCE: PACO Oil & Gas Inc.

February 27, 2008 14:35 ET

PACO Oil & Gas Inc. Acquires Oklahoma-Based McGill Gas Lease

SHERMAN, TX--(Marketwire - February 27, 2008) - PACO Oil & Gas Inc. (PINKSHEETS: POGC) -- an exploration company focused on purchasing under valued oil and gas leases -- has completed negotiations to acquire the McGill gas lease properties located in Okalahoma. PACO Oil & Gas reports that the property has one gas well in the Rowe Formation that is expected to produce up to 100 mcf of gas per day. The company is currently waiting on completion of highway construction that is adjacent to the McGill gas well. PACO Oil & Gas will then proceed to complete its installation of a pipeline that will deliver the gas to a local main gas collection infrastructure. Management will provide additional details of the McGill acquisition via press release.

About PACO Oil & Gas Inc.

PACO Oil & 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 & Gas concentrates its efforts developing under valued well communities into micro scale production facilities. 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:
    Librada Thomas

    PACO Oil & Gas Inc