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PACO Oil &Amp; Gas Inc. Completes Acquisition for Little Fox Oil Lease Properties

Posted on: Wednesday, 6 February 2008, 12:00 CST

PACO Oil & Gas Inc. (PINKSHEETS: POGC), an exploration company focused on purchasing under valued oil and gas leases, has completed a transaction to acquire the Little Fox Oil Lease Properties. Little Fox is located adjacent to the Fox properties PACO currently operates in Oklahoma. The property has two oil wells requiring renewal. The company expects the wells to produce at similar rates as its neighboring Fox wells. PACO Oil & Gas also announced that it expects to have the first of the Olsen Lease wells in production by the end of this month. The company is nearing completion of the infrastructure to accommodate and service all wells on the Olsen lease properties. Management reports that initial tests revealed oil in all of the Washington County located Olsen lease wells. www.pacopetroleum.com

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 concentrate 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: Librada Thomas President  PACO Oil and Gas Inc. 940-634-1839  

SOURCE: PACO Oil & Gas Inc.

Source: MARKET WIRE

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