Paco Oil and Gas Inc. Completes Name Change to Paco Integrated Energy Inc. -- Company Initiates 1 for 17 Reverse Split of the Co
May 05 2009 - 2:33PM
Marketwired
Paco Integrated Energy Inc. (PINKSHEETS: PACO) (PINKSHEETS: POGC)
(FRANKFURT: 4IP), formerly Paco Oil and Gas Inc., has concluded all
details of its merger with WW Oil and Gas Inc. and the official
name change of the corporation to Paco Integrated Energy Inc. The
company's new cusip number is 69523R 10 3 and all existing Paco Oil
and Gas and WW Oil and Gas Inc. shares will now be recognized under
that cusip number.
The board of directors also initiated a 1 for 17 reverse split
on the company's common stock. All shareholders of record will
receive 1(one) common share of Paco Integrated Energy Inc. for
every 17(seventeen) common shares held. Shareholders are required
to surrender their certificates to the company's transfer
agent:
Knightsbridge Assurance Ltd.
167 Queen St. S.
Unit# 9
Steetsville, ON
Canada
L5M 1L2
Any questions regarding the reverse split and issuing of new
certificates can be submitted to the company's investor relations
department at website www.pacopetroleum.com on the Contact Us page
form.
About Paco Integrated Energy Inc.
PACO Integrated Energy 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 leases production thereby significantly
increasing the value. PACO concentrates its efforts developing
undervalued well communities into micro scale production
facilities. Paco will acquire oil and gas assets 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.
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: Frank Snortheim President PACO Integrated Energy Inc.
281-818-3450
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