PACO Oil &Amp; Gas Inc. To Bring Olsen Lease Wells Up to Full Production
Posted on: Monday, 25 August 2008, 12:01 CDT
PACO Oil & Gas Inc. (PINKSHEETS: POGC) (FRANKFURT: 4IP) have acquired the necessary permits to operate an injection well located on the Olsen lease properties. There are 6 wells being re-worked on the 105 acre, Washington, Oklahoma properties. The injection well will pump water into the well formations that will help increase production flow rates on all 6 of the wells being re-worked. PACO Oil & Gas Inc. has begun preliminary production on 2 remaining wells on the Olsen lease acreage and will begin re-completion of the additional wells after the evaluations are complete.
About PACO Oil & Gas Inc.
PACO Oil & Gas Inc. is an exploration company focused on purchasing undervalued oil and gas leases with little or no production in the United States. Its experienced technical team then increases the lease's production thereby significantly increasing the value.
PACO Oil & Gas concentrates its efforts developing undervalued 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 & Gas Inc. 940-634-1839 www.pacopetroleum.com
SOURCE: PACO Oil & Gas Inc.
Source: MARKET WIRE
Related Articles
- Cabot Oil & Gas Provides Shale Play Update; Increased Production Guidance
- Wurldtech(TM) And Oil & Gas Industry Leader Shell Cooperate To Drive Cyber Security Improvements Throughout Infrastructure Supply Chain
- Panhandle Oil & Gas Inc. Announces Proved Reserve and Production Increases for Fiscal 2008; Discloses Probable and Possible Reserve Potential
- Carrizo Oil & Gas Provides Operational Update; Current Net Production Reaches Estimated 72 Mmcfe/D
- Carrizo Oil & Gas, Inc. Announces Record Production, Revenue and EBITDA in Fourth Quarter and Annual 2007 Financial Results
- Carrizo Oil & Gas, Inc. Announces Record Production and Third Quarter 2007 Financial Results
- Xtreme Oil & Gas, Inc. Announces Purchase of IRA Oil & Gas, LLC
- GarrettCom Targets Oil & Gas With a Line of Industrial Networking Products Hardened for Hazardous Environments
- Exxon's Profit Jumps 32 Percent ; Higher Oil, Gas Prices Propel Income Even As Production Declines
- American Oil & Gas Updates Status of Sims 16-26 Well at Fetter Project
 |
 |
User Comments (0)
RSS Feeds