Primary Capital Ltd.
- WKN: A1J4WD
- ISIN: BMG7242E1057
- Land: Kanada
Nachricht vom 23.02.2012 | 16:34
First Pacific Completes Testing and Swabbing of Dildy Weigel Willis No. 1 Oil Well in South Arkansas
First Pacific Oil and Gas Company Ltd. / Key word(s): Drilling Result 23.02.2012 / 16:34 --------------------------------------------------------------------- Peoria, Arizona - February 23, 2012 - First Pacific Oil and Gas Ltd. (C2G.F) is pleased to announce that the operator of its Arkansas oil wells has informed First Pacific that after perforating it has tested the Dildy Weigel Willis No. 1 Well. The operator swabbed the well on three separate occasions and was able to swab back a total of 50 Barrels of Oil. Based on these results, the operator has decided to install an electric downhole pump on the well. Installation and hookup to the holding tanks is expected shortly, and the Company will disclose the results as soon as they are available. As previously disclosed by the Company, on May 13, 2011, First Pacific signed an acquisition agreement with Avro Energy Inc., a Louisiana-based public company, (ticker symbol: AVOE.OB) whereby First Pacific was granted the right to earn a 50% working interest subject to royalties and operating costs in 12 of Avro Energy's hydrocarbon wells in South Arkansas. In accordance with the terms of this Agreement, First Pacific has paid Avro Energy a total of $250,000 for the first 3 Wells. First Pacific is to make a final payment of $800,000 in order to earn its interest in the remaining 9 wells. About the ArkLaTex Oil-Producing Region The ArkLaTex is a U.S. socio-economic region where Arkansas, Louisiana and Texas intersect. The region is centered on the Shreveport/Bossier metropolitan area in Northwest Louisiana. The region's history is heavily linked with the oil industry. The geology associated with the deposition of sediments from the Mississippi River, in particular, makes this area an abundant source for the oil and gas industries, which leads to the high levels of oil production within the region. About First Pacific Oil and Gas First Pacific Oil and Gas is an oil and gas company actively engaged in the acquisition, exploration and development of oil and natural gas properties in North America, with current oil and gas interests in Southern Arkansas. First Pacific Oil and Gas is seeking to acquire leases and to develop projects with Joint Venture partners in key regions in the ArkLaTex region. More information about the Company is available at its corporate website at http://www.pacificgasoil.com. Alternatively, shareholders can call the Company directly at 602-507-9426 or send an email to firstname.lastname@example.org. Disclaimer & Safe Harbor Statement: This release may contain certain 'forward-looking statements' with respect to certain of First Pacific Oil and Gas Company Ltd.'s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will' and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause First Pacific Oil and Gas Company Ltd.'s actual results to differ materially from those anticipated. First Pacific Oil and Gas Company Ltd. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which First Pacific Oil and Gas Company Ltd. operates. The actual results that First Pacific Oil and Gas Company Ltd. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. First Pacific Oil and Gas Company Ltd. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change. Company Contact: First Pacific Oil and Gas Company Ltd. Charles Irizarry, Director 7558 W. Thunderbird Ste. 1-486, Peoria, AZ, 85381 (602) 507-9426 email@example.com www.pacificgasoil.com End of Corporate News --------------------------------------------------------------------- 23.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 157886 23.02.2012
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