SOURCE: WW Oil and Gas Inc.

September 08, 2008 14:30 ET

WW Oil & Gas Inc. Receives Takeover Offer From Texas-Based Paco Oil & Gas Inc.

GAINESVILLE, TX--(Marketwire - September 8, 2008) - WW Oil & Gas Inc. (PINKSHEETS: WOGI) president Joseph Anthony Smith confirmed today that the company has received a takeover offer from Paco Oil & Gas Inc. Paco is a junior oil and gas firm operating in the State of Texas with similar projects and business activity relative to the operations of WW Oil & Gas Inc. WW Oil & Gas shareholders will be receiving detailed information regarding the offer along with a proxy voting letter that must be completed and returned to the company by no later than October 31, 2008. The proposal would bring together two strong integrated oil and gas companies active in several oil and gas lease operations in the U.S. We believe that integrating with Paco at this juncture should prove beneficial for us and our shareholders. The amalgamation will increase holdings, reduce operational costs and if completed will allow for additional shareholder liquidity because Paco Oil & Gas is quoted on the Frankfurt Stock Exchange as well as the company's OTC listing here in the U.S. "The officers and board of directors of this company are in favor of this proposal and urge all shareholders to vote in favor of this takeover offer," stated WW Oil & Gas Inc. president Joseph Anthony Smith.

Important Notice to Shareholders

Effective immediately management has implemented a new corporate policy regarding the dissemination of information regarding the company's business activity. Updates will be provided to shareholders and investors via press release and by regular quarterly reports by mail and or posted on the company website. WW Oil & Gas head office telephones will be used specifically for the day to day business operations of the corporation. The company will respond to inquiries directed to our website in a timely matter as always. We believe this is a constructive method of ensuring the fair disclosure of company information to our investors. For additional information on Paco please visit their website at www.pacopetroleum.com

Fair Disclosure, Regulation FD

On August 15, 2000, the SEC adopted Regulation FD to address the selective disclosure of information by publicly traded companies and other issuers. Regulation FD provides that when an issuer discloses material nonpublic information to certain individuals or entities-generally, securities market professionals, such as stock analysts, or holders of the issuer's securities who may well trade on the basis of the information-the issuer must make public disclosure of that information. In this way, the new rule aims to promote the full and fair disclosure.

For more information http://www.sec.gov/answers/regfd.htm

About WW Oil & Gas Inc.

WW Oil & Gas Inc., is a holding company established in 2005 was created to acquire oil and gas service companies as well as oil and gas-related assets. Such acquisitions are for the purposes of development, exploration, and exploitation. The company currently has exploitation projects in Texas, Utah, Oklahoma and New Mexico. Comprehensive drill programs are being developed for full exploitation of these projects.

Forward-looking statements

A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results WW Oil & Gas Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.

Contact Information

  • Contact:
    WW Oil & Gas Inc.
    Mr. Joseph Anthony Smith
    President
    940-612-1481
    www.wogi.us