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Pacific Energy &Amp; Mining Announces Reserve Evaluation

Posted on: Tuesday, 15 April 2008, 09:01 CDT

Pacific Energy & Mining Co. (PINKSHEETS: PEMC) is pleased to update the shareholders on its Reserve evaluation as of March 1, 2008.

                     Net Oil     Net Gas       Future Net      Future Net                     (bbls)       (Mcf)        Operating       Operating                                                Revenues        Revenues                                                    $         Discounted 10%                     --------   --------      -----------     -------------- Proved Developed  Producing           117,000    248,000      $10,110,000       $5,438,000 Proved Behind Pipe               64,000          405,000          251,000 Proved Undeveloped   393,000  7,891,000       85,420,000       48,892,000 Total Proved  Reserves            510,000  8,203,000      $95,935,000      $54,581,000                     --------  ---------      -----------     -------------- 

The above "Future Net Operating Revenues" were based on $85 per barrel of oil (bbls) and $8 per thousand cubic feet (Mcf) of natural gas. The above evaluation was conducted pursuant to the guidelines for proved reserves promulgated by the United States Securities and Exchange Commission.

About Pacific Energy & Mining Company:

Pacific Energy & Mining is a diversified company that operates oil and gas leases throughout Utah. It also has non-operated interests in Utah and Oklahoma. The Company would also like to welcome all new shareholders present or future to visit our website at www.pemc.us.

Disclaimer

The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.

 Contact Information:  Investor Relations Worldwide Financial Marketing, Inc. USA Int'l 1 954 360 9998 US 866 360 9998 Email Contact

SOURCE: Pacific Energy & Mining Company

Source: MARKET WIRE

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