Paco Integrated Energy Inc. Acquires Lease Properties In The District Of Olney, Texas
October 08 2009 - 10:50AM
PR Newswire (US)
DALLAS, TX, Oct. 8 /PRNewswire-FirstCall/ -- Paco Integrated Energy
Inc. (OTC:PACO) (4IP1.F) in a recent transaction has acquired over
400 acres of oil and gas lease properties located in Olney Texas.
These properties are comprised of the 360 acre Wolf Lease property
and the 60 acre Copeland Lease property. Paco has negotiated a
Farmout agreement on 180 acres of the Wolf lease properties. The
agreement will allow for significant gains to be realized with
little or no expenditures. The currently producing Copeland lease
is being reviewed in order to formulate a comprehensive exploration
program to maximize oil recovery from the property. The company
will provide periodic updates on these properties on our website as
information is made available. http://www.pacopetroleum.com/ About
Paco Integrated Energy Inc. PACO Integrated Energy 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 concentrates its
efforts developing under valued well communities into micro scale
production facilities. Paco will acquire oil and gas asset with
proven past production history and proven reserves behind pipe to
minimize initial investment risk. Paco will further build a
comprehensive network of oil and gas professionals to be part of
the team to evaluate future investment, and divestment projects and
ongoing focus on low cost efficient operations. 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. http://www.pacopetroleum.com/ 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: George Hammer, President, PACO Integrated
Energy Inc., (972) 415-2053, http://www.pacopetroleum.com/
DATASOURCE: Paco Integrated Energy Inc. CONTACT: George Hammer,
President, PACO Integrated Energy Inc., (972) 415-2053,
http://www.pacopetroleum.com/
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