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PFAP no longer exists... it is now CAK.
Comparables - Click below for 6 Month Analysis of Pacific Asia Petroleum vs. Comparables as defined in recent Proxy Statement:
Continental Resources (CLR)
Concho Resources (CXO)
BPZ Resources (BPZ)
Carrizo Oil & Gas (CRZO)
Vaalco Energy (EGY)
http://www.humanityworldwide.com/clients.htm
Posted by Humanity Worldwide
EBITDA of $142.2 Million in 2010
(Proxy Statement PRE 14A - ANNEX D Pacific Asia Petroleum, Inc. (PAPI) Consolidated with Oyo – Selected Data)
For More Information: Pacific Asia Petroleum Investor Conference Call on Oyo Oilfield Acquisition Update (January 6, 2010)
Pacific Asia Petroleum, Inc. (NYSE Amex: PAP) announced today that it will host a conference call with its shareholders on January 6, 2010.
The Company’s President and CEO, Frank Ingriselli, will discuss its planned acquisition of all of the interest held by CAMAC Energy Holdings Limited and certain of its affiliates in the Oyo Oilfield. The Company’s Proxy Statement soliciting stockholder approval of this acquisition and related transactions was filed with the U.S. Securities and Exchange Commission on December 31, 2009.
Conference Call details -
Date: January 6, 2010 (Wed)
Time: 11:00am PT / 2:00pm ET
Participate: To participate in the conference call, please dial 888-857-6930 (toll free) or 719-457-2731 (toll) at least 10 minutes prior to the start of the call. Callers will need to reference confirmation code: 2698467
For more information:
http://www.papetroleum.com/news-2.html
Posted by Humanity Worldwide
Click below for Pacific Asia Petroleum performance YTD and performance vs. Asian Based Comparable Energy Companies and Leading Micro Cap Energy Companies.
http://www.humanityworldwide.com/clients.htm
Pacific Asia Petroleum Investor Conference Call on Oyo Oilfield Acquisition Update
Pacific Asia Petroleum, Inc. (NYSE Amex: PAP) announced today that it will host a conference call with its shareholders on January 6, 2010.
The Company’s President and CEO, Frank Ingriselli, will discuss its planned acquisition of all of the interest held by CAMAC Energy Holdings Limited and certain of its affiliates in the Oyo Oilfield. The Company’s Proxy Statement soliciting stockholder approval of this acquisition and related transactions was filed with the U.S. Securities and Exchange Commission on December 31, 2009.
Conference Call details -
Date: January 6, 2010 (Wed)
Time: 11:00am PT / 2:00pm ET
Participate: To participate in the conference call, please dial 888-857-6930 (toll free) or 719-457-2731 (toll) at least 10 minutes prior to the start of the call. Callers will need to reference confirmation code: 2698467
For more information:
http://www.papetroleum.com/news-2.html
Posted by Humanity Worldwide
Click below for Pacific Asia Petroleum performance YTD and performance vs. Asian Based Comparable Energy Companies and Leading Micro Cap Energy Companies.
http://www.humanityworldwide.com/clients.htm
Insiders have been selling stock with vigor in the last few weeks in order to purchase lower price options. It means they hit the stock in the market place with shares they already own and then purchase cheaper options from the company. It was done sloppily and with little concern for shareholders, often driving the stock down 10-15% in a day or days rather than sitting on the ask and waiting for an uptick. It's why the stock is down and why it headed down hard today in an otherwise bull market. Go to the Nasdaq website, then PAP, then Real Time SEC filings. Every time an insider sells he/she files.
PFAP has a new symbol: PAP
Pacific Asia Petroleum now trades on NYSE Amex under the ticker symbol: PAP
25,000 Barrels Per Day
Eni starts production of the Oyo oil field, in the Nigerian Deep offshore
The field has the ability to initially produce at a rate of approximately 25,000 barrels of oil per day (bpd) from two subsea wells in a water depth of 400 meters
(Link below for full press release)
http://www.eni.com/en_IT/media/press-releases/2009/12/2009-12-15-eni-starts-production-oyo-field-nigerian.shtml
As per Pacific Asia Petroleum press release (Nov 23), PAP will acquire 60% of this asset.
http://www.papetroleum.com/news-2.html
Price of Oil as of 10AM is $69.76 per barrel.
At 25,000 barrels per day, the math is obvious.
Posted by Humanity Worldwide
Link below for PAP performance YTD and PAP vs. other Micro Cap Energy Companies and other Asian-based Micro Cap Energy Companies.
http://www.humanityworldwide.com/clients.htm
PAP +663% YTD - Investor Conference Call December 2
Pacific Asia Petroleum, Inc. to Host Investor Conference Call on Year End Update and Business Strategy for 2010
Year-end update on the Company’s China operations and discuss the Company’s 2010 business strategy that includes its recently signed Purchase and Sale Agreement on the Oyo Oilfield in Nigeria.
Date: December 2, 2009 (Wed)
Time: 11:00am PT / 2:00pm ET
Participate: To participate in the conference call, please dial 888-791-4309 (toll free) or 913-312-0396 (toll) at least 10 minutes prior to the start of the call. Callers will need to reference confirmation code: 3595647
Listen only: A live webcast of the call will be available at the Company's website www.papetroleum.com. Questions can also be submitted beforehand through the webcast.
Replay: The webcast will be archived on the Company's website following the call.
http://www.papetroleum.com/news-2.html
Posted by Humanity Worldwide
Link below for PAP performance YTD and performance vs. other micro cap energy companies.
http://www.humanityworldwide.com/clients.htm
5,000 - 10,000 barrels per day
PACIFIC ASIA PETROLEUM, INC. (PAP) SIGNS PURCHASE AND SALE AGREEMENT COVERING RIGHTS IN THE OYO OILFIELD IN NIGERIA
http://www.papetroleum.com/news-2.html
Posted by Humanity Worldwide
Link below for PAP performance ytd and performance vs. other micro cap energy companies.
http://www.humanityworldwide.com/clients.htm
I am surprised to see John Liviakis associated with this company. Perhaps his reputation for promoting undeserving companies is itself undeserved.
Still, it is a red flag.
The below is old and from what many feel is an overly biased source. http://www.citronresearch.com/index.php/2003/12/12/
The investor relations arm behind Verdisys is John Liviakis. John Liviakis has been in the investor relations business for many years. Instead of commenting on Mr. Liviakis, let his track record speak for itself. Below is a sampling of some of the stocks Mr. Liviakis has been involved with over the past 6 years and their current trading price. (at one point they were all much higher)
TMXG- .05 EACC-.26
NTGN- .0001 RACE- .0015
PCOM- .15 MXMX- .0001
USWE- .14 PFAE- .06
SRMI- .20 BIOP- .005
Our Favorite of those stocks is Biopulse (BIOP). Mr. Liviakis was the largest shareholder (over 13%) and spokesperson for the company. The company was selling fake cancer cures in Mexico until the Tijuana clinic got shut down by the FTC and the Health Department. This was only 2 years ago for Mr. Liviakis.
sorry only play the stock charttechnical
Baggers - Do you know the current situation of the M&A action that PFAP is involved in with CAMAC? http://biz.yahoo.com/e/090904/pfap.ob8-k.html
Is this a done deal...I would like to hear your take on it.
Thanx
Breaking 5.25 and we will see 6$ before next week
Pacific Asia Petroleum Announces Approval for NYSE Amex Listing
Date : 11/03/2009 @ 11:00AM
Source : Business Wire
Stock : Pacific Asia Petroleum, Inc. (PFAP)
Quote : 4.95 0.62 (14.32%) @ 12:47PM
Pacific Asia Petroleum Announces Approval for NYSE Amex Listing
Pacific Asia Petroleum, Inc. (OTCBB:PFAP), engaged in the business of oil and gas development, production and distribution in Asia and the Pacific Rim countries, announced today its common stock has been approved for listing on the NYSE Amex. Trading is expected to begin on November 5, 2009 under the new ticker symbol PAP (NYSE Amex: PAP). Prior to that date, Pacific Asia Petroleum’s shares will continue to trade on the Over-the-Counter (OTC) Bulletin Board.
“Moving from the OTC Bulletin Board to the NYSE Amex is another tremendously important milestone for Pacific Asia Petroleum,” said President and CEO Frank C. Ingriselli. “We have always prided ourselves on our conservative accounting, transparency and corporate governance. Moving up to the NYSE Amex not only validates these efforts, it provides us with greater visibility for our company, more liquidity for our stock and the opportunity to further expand our investor base. We believe that this move will deliver more value for our shareholders now and down the road.”
“We welcome Pacific Asia Petroleum to NYSE Amex,” said Scott Cutler, Head of Listings, Americas. “Pacific Asia Petroleum and its shareholders will benefit from the superior market quality, technology, and services provided by listing on NYSE Euronext markets. Pacific Asia Petroleum is a welcome addition to our roster of leading energy companies, and we look forward to a strong and lasting partnership.”
About Pacific Asia Petroleum, Inc.:
Pacific Asia Petroleum, Inc. engages in the business of oil and gas exploration, development, production and distribution in Asia and the Pacific Rim countries, with a specific focus on developing a broad range of energy opportunities, including clean and environmentally-friendly natural gas ventures, in China. The Company's executive offices are located in Hartsdale, New York, and the Company also has offices located in Beijing, China and California.
Forward-Looking Information Statements
Some of the items discussed in this press release are forward-looking statements about Pacific Asia Petroleum’s activities. Words such as “anticipates,” “expects,” “plans,” “projects,” “believes,” “seeks,” “estimates,” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management’s current expectations, estimates and projections, are not guarantees of future performance, and are subject to certain risks, uncertainties and other factors, some of which are beyond the Company’s control and are difficult to predict. Among the factors are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; results of additional testing; timely development of production opportunities and acquired technologies; the potential disruption or interruption of testing and development activities due to accidents, political events, civil unrest, or severe weather; government-mandated restrictions on scope of company operations; general economic and political conditions; the Company’s need and ability to obtain capital; the Company’s ability to successfully consummate contemplated acquisitions, obtain required government approvals, and integrate the acquired entities and operations into the Company’s business; and other risks described in the Company’s filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Pacific Asia undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
I am hearing Great Things about PFAP and Expect to see this Trade around $10 Within a few months...
STAY TUNED!!!
I'm glad I can be of some help, sorry I couldn't answer all of your questions. Good luck, please let me know how you progress with them. But I can tell you from my own experience that I own quite a few shares at an avg. Pps of .50 and I only wish I would have bought 100,000 or 200,000 more when it went down to the .40's .50's & .60's but who knew, I own my position for about 2 years now.. Good luck
sent the following message to them both:
Good Monday Morning, as I assume you don’t check email on weekends.
I was advised to contact you.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40566001
I am looking for revenues or net income 2011 estimates for PFAP; all things considered.
I don’t care about what happens in the next 365 days. I am only interested in where you think this company will be in a couple years and if they are likely to dilute their equity to help get themselves there.
I apologize if this inconveniences you.
Glen
Hi Bradford, sorry but unfortunately I am unable to estimate on revenue since PFAP has not estimated as of yet. But my feelings toward PFAP are simple we gave a company with zero debt, positive cash on the books, terrific assets, great technology and a super strong leader. Sometimes in life we need to acknowledge that it's not what you know but rather who you know and in this case we have both the know how and the strong political connections. As far as picking PFAP over the others well NEP has already seen some positive effects due to it's uplisting already and lpih I am not at all familiar with, but my best advice would be to call Liviakas Financial and speak to either John Liviakas or Michael Beyes, they are both very nice and helpful and happy to give accurate information to any question you may have.... Good Luck
Liviakis Financial
(415) 389-4670
www.liviakas.com
so, i guess this company is supposed to start generating cash here in the next quarter.
you think it should be around $10 or at least $5 and uplist.
what are the revenue and earnings numbers you are projecting?
what's the growth rate? why would I choose PFAP over NEP or LPIH?
This is looking good again
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39934752
I don't get it????
Great conferance call today, can be heard on www.papetroleum.com
We are moving closer to a NYSE listing, all the paperwork is complete and ready to go, if you would like to see what happens when a company similiar to ours makes the move to NYSE check out NEP formerly CNEH, look at that chart and you will see where we will be in a month.
I'm not sure whether or not you folks realize it but this is huge news, this stock easily goes to $5.00 very shortly and within a few months I say we are at $10.00. Follow NEP a similiar company with good mgmt but not nearly the all stars that we have with Frank Ingriselli leading the troops. we are on track for a NYSE listing real soon after that sky's the limit.
Good Luck
Pacific Asia Petroleum, Inc. Signs a Series of Agreements On Enhanced Oil Recovery and Production
Press Release
Source: Pacific Asia Petroleum Inc.
On Thursday June 18, 2009, 9:00 am EDT
Operations Scheduled to Commence in Several Oil Fields
Enhanced Recovery Technology Acquired
Investor Conference Call Update
HARTSDALE, N.Y., June 18, 2009 (GLOBE NEWSWIRE) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP - News), a U.S. publicly traded company (the "Company"), announced today that its Hong Kong subsidiary, Pacific Asia Petroleum Energy Limited ("PAPE"), along with its China affiliate, Inner Mongolia Sunrise Petroleum Co. Ltd. ("Sunrise"), signed a series of agreements on enhanced oil recovery and production ("EORP") with various Chinese companies and individuals as envisioned pursuant to the Letter of Understanding signed by the Company and PAPE as announced publicly on May 15, 2009. The entry into and performance of these EORP-related agreements, including various formation and operating-related agreements and an agreement signed by Sunrise covering several oil fields in Inner Mongolia and the Heilongjiang Province in the People's Republic of China, are anticipated to pave the way for the commencement of production operations this year. As presently provided under the Letter of Understanding and related EORP agreements, the Company shall maintain a minimum 51% interest in PAPE and all the EORP agreements signed going forward.
Additionally, pursuant to a patent assignment agreement, dated June 7, 2009, entered into by PAPE and one of the parties to the Letter of Understanding, PAPE has acquired rights to certain enhanced oil recovery technology in the form of six pending patents and related rights covering chemical enhanced oil recovery, subject to issuance of such pending patent rights by the State Intellectual Property Office of the People's Republic of China.
With these EORP-related agreements signed and in place, the Company expects PAPE to commence operations in these various oil fields in the next calendar quarter and commence production and generation of revenues in the 4th quarter of 2009.
Commenting on these new agreements, Frank C. Ingriselli, President & CEO of Pacific Asia Petroleum, said: "We are pleased that the enhanced oil recovery and production venture we announced last month has now been finalized with the entry into a series of definitive agreements which we anticipate will allow PAPE's commencement of oil field production operations this year. These ventures should deliver revenues and cash flow this year and deliver on our business plan of growing shareholder value through low cost and low risk ventures. Our Company looks forward to working with our Chinese partners to enhance recovery from, and drill new wells, in several oil fields in China. The opportunities we are targeting offer hundreds of wells to add to our production portfolio. We believe that this new business and the technology we have acquired offer great upside for our Company not only throughout China's energy market, but throughout Asia."
Investor Conference Call:
The Company also announced today that it will host an investor conference call in approximately two weeks. More details on this call will be provided on the Company's website and in its public filings in advance of the call. Frank C. Ingriselli, President & Chief Executive Officer will discuss this enhanced oil recovery and production venture and will also provide an update on operations.
I spoke to the IR firm today, more good things are on the way and in the works, PFAP has a great BRIGHT future ahead.
Closed at $2.00 for the first time in quite some time, NYSE or NASDAQ here
we come!!!!
I can't figure out why this stock is not trading at $10.00 it has the valuation to be at $10.00 not to mention what this deal that was just finalized will do to it's bottom line, I think perhaps we are just not known by the masses at this point but when we cross $2.00 and get listed on a major exchange I am sure we will get the attention that we deserve.
http://www.papetroleum.com/events.html
Pacific Asia Petroleum CEO Frank Ingriselli on the Money Channel
Click on above link to hear the interview, this show reaches 3 million listners each day.
Pacific Asia Petroleum, Inc. Signs Agreement On Enhanced Oil Recovery and Production and Related Technology Acquisition and Provides Update On Its Coal Bed Methane and Tight Gas Sand Operations
May 15, 2009 11:49:00 AM
2009 GlobeNewswire, Inc.
Email Story Discuss on ZenoBank
View Additional ProfilesHARTSDALE, N.Y., May 15, 2009 (GLOBE NEWSWIRE) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP), a U.S. publicly traded company, announced today that its wholly-owned Hong Kong subsidiary, Pacific Asia Petroleum Energy Limited ("PAPE"), entered into an agreement on enhanced oil recovery and production ("Agreement") with Mr. Li Xiangdong ("LXD") and Mr. Ho Chi Kong ("HCK"), superseding in full that certain Amended and Restated Agreement on Cooperation, dated February 27, 2009, entered into by and among the Company, LXD, HCK and Well Lead Group Limited (the "AOC"), which AOC was terminated by the parties effective May 13, 2009.
The Agreement covers substantially the same transaction as contemplated under the AOC, except with the inclusion of 2 additional enhanced oil recovery oilfield projects in the Fulaerjiqu Oilfield in Qiqihar City, the Heilongjiang Province in the People's Republic of China (the "Fulaerijqu Oilfield").
The Agreement also significantly reduces the Company's acquisition costs and ties its cash payments and Company stock issuances to LXD and HCK to the achievement of milestones, including production milestones.
Pursuant to the Agreement, the parties have agreed to form a Chinese joint venture company (the "CJVC"), to be 75.5% owned by PAPE and 24.5% owned by LXD.
LXD will assign to CJVC six pending patents and related rights related to chemical enhanced oil recovery (the "LXD Patents"). Upon formation of the CJVC, PAPE will provide HCK with a 30% ownership of PAPE, with the Company retaining a 70% ownership of PAPE. The Agreement also provides that HCK will work to assign to the CJVC two contracts relating to oilfield projects in the Fulaerjiqu Oilfield, each delivering to the CJVC a significant percentage of the oil produced using the technology covered by the LXD Patents. According to the Qiqihar City branch of the Chinese Ministry of Land and Resources, the Fulaerjiqu Oilfield contains an estimated 115,000,000 barrels of Original Oil In Place ("OOIP"), of which only 510,000 barrels of cumulative oil have been produced to date.
In addition, LXD shall provide to the CJVC research and development services, training, and assistance in promoting certain other opportunities developed by him that target the application of the technology embodied in the LXD Patents, including assistance with entering into a contract with respect to the Liaohe Oilfield (the "Liaohe Contract"), and helping to develop projects in both the Shandong Province and the Xinjiang autonomous region of the People's Republic of China for the provision and application of technology and chemicals developed by LXD.
For additional information relating to the Agreement, please see the Company's Form 8-K filed on May 15, 2009.
Commenting on the new agreement, Frank C. Ingriselli, President & CEO of Pacific Asia Petroleum, said: "We are excited about this opportunity to acquire this enhanced oil recovery technology which has already been successfully tested on hundreds of wells, and to expand the scope of our previous agreement with Well Lead to include the acquisition of additional oilfield projects. We believe that this type of venture that provides minimal cash exposure, and ties such exposure to successful production milestones, and provides the potential for immediate cash flow, is the right way to go for Pacific Asia Petroleum. The addition of 2 more oilfields on which to utilize this newly acquired technology to enhance production and the ability to apply the same in fields throughout all of China (and elsewhere in Asia) is anticipated to provide tremendous upside for our Company. These are the type of ventures that we believe fit well into our development strategy and will help to deliver on our Company's business plan and grow shareholder value."
Coal Bed Methane Update
The Company is also pleased to announce, as recently disclosed in its Quarterly Report on Form 10-K for the three-month period ended March 31, 2009, that it has completed the shooting of 162 kilometers of seismic on its 100% owned and operated Zijinshan coal bed methane and tight gas sand asset (the "Zijinshan Asset"). This seismic data has already been processed and is currently being interpreted. Once the seismic interpretation is complete and geological models are updated, potential well locations will be identified. In the meantime, an environmental impact assessment study is underway, and will be completed prior to locating and drilling the first well, which the Company anticipates will be drilled in the 2nd half of 2009.
The Zijinshan Asset was awarded in 2008 to the Company's wholly owned Hong Kong subsidiary, Pacific Asia Petroleum Ltd ("PAPL"), pursuant to a Production Sharing Contract, and the Company was later approved as Operator of the Zijinshan Asset by the Chinese Ministry of Commerce. The Zijinshan Asset covers an area of 175,000 acres and is located in the Ordos Basin in the Shanxi Province of China. The Ordos Basin is the second largest petroleum-bearing basin in China and contains one of the largest known reserves of gas in China. To the immediate west of the Zijinshan block are discovered and commercialized gas fields estimated by China United Coal Bed Methane Company ("CUCBM") to contain gas resources of approximately 50 trillion cubic feet of gas (50 TCF). Based on seismic studies and drilling previously done on the Zijinshan Asset, it is estimated by CUCBM that the Zijinshan Asset has potential gross gas resources in excess of 3.8 TCF. The Zijinshan block is also in close proximity to the major West-East gas pipeline and the Ordos-Beijing Pipeline, which link the gas reserves in China's western provinces to the markets of the Yangtze River Delta, including Shanghai and Beijing.
The Company is also currently engaged in discussions with CUCBM and China National Petroleum Corporation ("CNPC") regarding the Company's potential entry into production sharing contracts with CUCBM and CNPC, with respect to both a tight gas sand asset previously under review by the Company and the Baode area asset which was previously the subject of the Company's recently terminated asset transfer agreements. Pacific Asia Petroleum is also in advanced discussions with several third parties to contribute their CBM assets (and cash) to PAPL. While the Asset Transfer Agreements with ChevronTexaco China Energy Company and with BHP Billiton World Exploration Inc. were terminated (see the Company's 8-K filed today), the Company is hopeful that its discussions with CUCBM and CNPC will enable the Company to acquire both a tight gas sand asset previously under review by the Company and to also re-acquire rights to the Baode area from the Chinese Government under new production sharing agreements. These assets would also be contributed to PAPL.
Commenting on the Company's activities in CBM and tight gas sand, Mr. Ingriselli said: "We believe that the current work being done on our Zijinshan Asset, and the wells we plan to drill in the near future on that asset will add significant value to the Company. When combined with possible new acquisitions to be contributed by third parties to our wholly owned PAPL company, along with the infusion of cash by such third parties, will create an entity that will have the ability to bring early commercialization of the methane gas assets and take advantage of the growth that China has planned for the gas markets in the country, and the enhanced fiscal terms that have been provided."
For more information on Pacific Asia Petroleum, visit our website (www.papetroleum.com), and also listen to an update to be provided by Frank Ingriselli on a radio interview to take place on Monday morning, May 18, 2009. The radio broadcast will be archived on the Company's website.
About Pacific Asia Petroleum, Inc.
Pacific Asia Petroleum, Inc. is engaged in the business of oil and gas exploration, development, production and distribution in Asia and the Pacific Rim countries, with a specific focus on developing a broad range of energy opportunities, including clean and environmentally friendly natural gas ventures, in China. The company's executive offices are located in Hartsdale, New York, and the company also has offices located in Beijing, China and California.
Cautionary Statement Relevant to Forward-Looking Information.
Some of the items discussed in this press release are forward-looking statements about Pacific Asia's activities in the People's Republic of China. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates," "budgets" and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the company's control and are difficult to predict. Among the factors that could cause actual results to differ materially are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; results of additional testing; timely development of the field; the potential disruption or interruption of testing and development activities due to accidents, political events, civil unrest, or severe weather; government-mandated restrictions on scope of company operations; general economic and political conditions; the company's ability to successfully consummate the contemplated acquisitions on terms and conditions satisfactory to the company, obtain required government approvals, and to successfully integrate the acquired entities and operations into the company's business; and other risks described in the company's filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Pacific Asia undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Pacific Asia Petroleum, Inc.
Media Contact:
Bonnie Tang
(914) 472-6070
bonnietang@papetroleum.com
250 East Hartsdale Ave.
Hartsdale, NY 10530
www.papetroleum.com
Liviakis Financial Communications, Inc.
Investor Relations Contact:
John Liviakis
(415) 389-4670
John@Liviakis.com
655 Redwood Hwy, Suite 395
Mill Valley, CA 94941
www.liviakis.com
Great day, great % move terrific volume, we are really heading in the right direction at $2.00 we file for the Amex listing and after that Sky's the limit!!!
Frank Ingriselli is a very conservative upstanding businessman, so it comes as no surprise to me that we are among the top 3%. GLTA
Pacific Asia Petroleum Ranked in the Top 3% of Companies for Its Conservative Accounting and Governance Risk, Report by Audit Integrity
May 4, 2009 9:00:00 AM
2009 GlobeNewswire, Inc.
Email Story Discuss on ZenoBank
View Additional ProfilesHARTSDALE, N.Y., May 4, 2009 (GLOBE NEWSWIRE) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP) is rated amongst the top 3% of companies reviewed as to their accounting and governance risk, as reported by the Forbes Magazine "100 Most Trustworthy Companies" audit firm.
The latest AGR report (Accounting and Governance Risk Overview) issued by Audit Integrity shows Pacific Asia Petroleum' s score of 95 (out of a possible 100). This places the Company in the 97th percentile among all companies reviewed, indicating a lower accounting and governance risk than 97% of the 12,000+ companies reviewed. The results are particularly noteworthy given Pacific Asia Petroleum's size and operations in China.
Audit Integrity, Forbes Magazine's partner in the "100 Most Trustworthy Companies," is a leading provider of accounting and governance risk analysis on public companies. It looks beyond the raw data on income statements and balance sheets to assess the true quality of corporate accounting and management practices.
Commenting on the Company's outstanding AGR score, President and CEO Frank Ingriselli said, "We are very proud to receive such a favorable rating from Audit Integrity. It is a recognition of our Company's continuous commitment to conduct business in a fiscally conservative, socially conscious and legally responsible manner. We believe that shareholders and investors, particularly in the current volatile market environment, recognize that investing in companies with high ethical standards and responsible business practices is a way to maximize their value and reduce their risk."
For more information about Pacific Asia Petroleum, Inc.'s AGR report, please visit Pacific Asia Petroleum's corporate website at www.papetroleum.com or go directly to Audit Integrity's website at www.auditintegrity.com.
About Pacific Asia Petroleum, Inc.:
Pacific Asia Petroleum, Inc. engages in the business of oil and gas exploration, development, production and trading in Asia and the Pacific Rim countries, with a specific focus on developing a broad range of energy opportunities, including clean and environmentally-friendly natural gas ventures, in China. The company's executive offices are located in Hartsdale, New York, and the company also has offices located in Beijing, China and California.
CONTACT: Pacific Asia Petroleum, Inc.
Media Contact:
Bonnie Tang
914-472-6070
bonnietang@papetroleum.com
www.papetroleum.com
250 East Hartsdale Ave.
Hartsdale, NY 10530
Liviakis Financial Communications, Inc
Investor Relations Contact:
John Liviakis
(415) 389-4670
John@Liviakis.com
www.liviakis.com
655 Redwood Hwy, Suite 395
Mill Valley, CA 94941
I see trouble next week, shorts are moving in.
Big break of 1.15, shouldn't have trouble seeing close to 2 imo.
Moving in the right direction, keep it going. I can only imagine when we see some real news>
Selling is drying up, should make way for some strong buying, hopefully on good news
More good news PFAP making the right moves for the current situation, and putting more cash back on the books. I'm sure more good news will be to follow in the days to come.
HELLO HELLO HELLO HELLO HELLO hello hello hello hello hello hello
IT ECHO'S IN HERE
Just a heads up I am a private placement investor on the first offering, through Clark Dodge..Not laird Cagan or Liviakas..my original purchase price is just about .50
Hey Indy, pretty quiet on this Board, whats up you posted 2 news clips but whats your take on the stock and it's price? Thanks Jim
NEWS 9/30/08:
Onshore China Oil Agreement Signed by Pacific Asia Petroleum, Inc.
HARTSDALE, N.Y., Sep 30, 2008 (GlobeNewswire via COMTEX) -- Asia Petroleum, Inc. (OTCBB:PFAP), a U.S. publicly traded company, announced today that it has entered into an Agreement on Cooperation with Well Lead Group Limited relating to the possible acquisition of a participating interest in two onshore producing areas in the People's Republic of China.
Pursuant to the Agreement on Cooperation, Pacific Asia Petroleum, Inc. ("Pacific Asia") and Well Lead Group Limited ("Well Lead") agree to use commercially reasonable efforts to finalize and enter into a final Sale and Purchase Agreement (before the end of November, 2008) with respect to the purchase by Pacific Asia of up to a 39% interest ("Interest") held by Well Lead in Northeast Oil (China) Development Ltd.'s 95% interest in the currently producing oilfield blocks Fu710 and Meilisi723 located in the Fulaerjiqu Oilfield in Qiqihar City, the Heilongjiang Province in the People's Republic of China.
Commenting on the Agreement, Frank C. Ingriselli, President & CEO of Pacific Asia said: "We are excited about this opportunity to implement Pacific Asia's plans to expand on our onshore oil production opportunities in China. The current partners have drilled over 20 wells in the fields with steadily increasing production. We believe that our Pacific Asia operational team will complement our partners by bringing their experiences and technical recommendations on how to maximize economic production. While we still need to complete our due diligence, we believe that this opportunity has the potential to jump-start our strategy of adding currently producing fields to our portfolio."
According to current plans, the parties intend to continue to drill production wells over the next few years in order to maximize commercial production from the blocks. The two blocks have a total area of approximately 34 square kilometers. The estimated oil reserves in the field have been certified by the Chinese government; production licenses have been issued and an independent report has been publicly published with a present value of approximately US$230 million for the 51% owner. The oil sharing contract covering these areas has a term that expires in May 2027.
NEWS 9/25/08:
Pacific Asia Petroleum Appoints Heidi Wong as General Manager
HARTSDALE, N.Y., Sep 25, 2008 (GlobeNewswire via COMTEX) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP) today named Ms. Heidi Wong as its General Manager - Business Development, Government Relations and Commercial Affairs.
Ms. Wong's appointment is the latest addition to the company's wealth of management experience regarding the energy market in China. Ms. Wong has 20 years of experience in business development, government liaison and commercial affairs in the Chinese energy market with Texaco and Chevron.
Ms. Wong has worked in China in the energy sector since 1988. With an innate understanding of Chinese culture and unique business experience in China, she has held various key positions with Texaco during her 13 years of tenure. She was the Director of Marketing and Government Affairs for Texaco China and general representative of Texaco in Beijing prior to the Texaco-Chevron merger. Following the merger in 2001, Ms. Wong served as the Vice President of Business Development and External Affairs for ChevronTexaco China Energy Co. In these positions, she provided critical management expertise on the development of many profitable oil and gas exploration and production business opportunities.
Prior to joining Pacific Asia Petroleum, Inc., Ms. Wong was appointed in 2006 as the General Manager, Commercial and Government Affairs at Australia-based Sino Gas Energy Ltd. (SGE).
"Over the last eight years, Ms. Wong has successfully spearheaded Texaco's, Chevron's and SGE's overall liaison and relationship initiatives in the exploration, development and production businesses and in particular the coal bed methane businesses in China. She has played a key role in those companies' outreach efforts to integrate all stakeholders across the business spectrum, from government organizations, media to local communities, with an objective to maintain a politically, socially, and legally-favorable business environment. We look forward to Heidi's continued contributions to Pacific Asia Petroleum and our drive towards the commercialization of our assets," said Frank C. Ingriselli, Pacific Asia Petroleum, Inc.'s President and CEO.
In her new capacity as General Manager - Business Development, Government Relations and Commercial Affairs at Pacific Asia Petroleum, Ms. Wong will utilize her outstanding experience and established networks to enhance Pacific Asia Petroleum's strategic positioning in the industry sector as well as in the Chinese business community. She will provide integral, critical support to the Company's new and existing business development projects by working in close partnership with government organizations, public community, and other interest groups to influence policy making at national, provincial, and local levels.
"It is an exciting opportunity to become a member of Pacific Asia Petroleum's management team," said Ms. Heidi Wong. "Pacific Asia Petroleum is an energetic and dynamic company. This is the kind of company that can make a difference in the highly competitive commercial environment of China and I am honored to have the opportunity to contribute to building a successful portfolio of quality assets. I look forward to embarking on this new position and taking on new challenges. I am confident that we will further strengthen our relationship with all the key stakeholders in China and create more opportunities for the Company to grow profitably."
Ms. Wong holds an MBA degree from Wuhan University, Beijing. She is based in Pacific Asia Petroleum, Inc.'s Beijing office.
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