~POIL~Chart!~No Dilution!~Acquisition of 67 oil wells...
~O/S UNCHANGED SINCE POIL WAS .70!
>>> 60.04M o/s Mar.2014 >>> 60.08M o/s Nov.2014
Pacific Oil Company Receives Court Approval for Previously Announced 67 Oil Well Acquisition Located on 9 Canadian Heavy Oil Properties
LAS VEGAS, NV--(Marketwired - May 12, 2014) - Pacific Oil Company ("Pacific Oil") (OTC: POIL), is pleased to announce that its bid to purchase 67 wells located on 9 properties has received approval from Court of Queen's Bench. This approval was required as the assets are being purchased out of bankruptcy at a significant discount to market.
Ed Loven, Vice president of Pacific Oil, said, "The court's decision to allow this purchase to take place is great news for our company. The path is now clear for the deal to be completed which in turn will immediately increase our company's overall value by adding to our portfolio significant assets, production and revenue. As previously stated we plan on working the projects in close proximity to existing assets and divesting for profit those assets that would be more valuable to other companies."
Now that this final regulatory hurdle has been met, Pacific Oil is in a position to close the transaction this week. A press release will be issued once this is complete.
About Pacific Oil Company: A Nevada based corporation, Pacific Oil Company is a dynamic junior energy company with both established assets and production within the energy rich province of Saskatchewan Canada.
The company continues to add value and set the stage for rapid success through low risk acquisitions and organic growth achieved through further development of existing properties. Pacific Oil fully understands that a balance must be struck between short term profitability, increasing net asset value and the long term growth that rewards early shareholder.
Pacific Oil operates under the notion that operational efficiency achieved through the minimization of administrative overhead is of the upmost importance if costs are to be kept under control and profits maximized for investors. All capital expenditures must provide value and risk control must be present at all times.
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