Pacific Energy & Mining Co. (PINKSHEETS: PEMC) announces results of its activities as follows:

In GRAND COUNTY, UTAH:

Pacific Energy has installed three compressors at its natural gas gathering system. Gas compressors should be operational by end of August 2008. The company expects 3,000,000 cubic feet of natural gas per month. PEMC has also completed two additional oil wells and is in the process of testing them. The company expects about 12 barrels of oil per day.

In CISCO SPRINGS FIELD: 1400 acres, 50% interest.

PEMC has placed on production three additional oil wells.

FLAGSTONE MINING: Muscogee County, Oklahoma. Flagstone deposits.

PEMC owns 20% interest in Flagstone Mining.

BRENNAN BOTTOMS OIL FIELD

PEMC owns a 7% working interest in the field. Part of PEMC's acreage has been farmed out to Questar Corporation to form the Johnson Bottoms Unit. The Unit formation is currently with the Bureau of Land Management for final approval. Once approved the first horizontal well will be drilled during the next few months.

PEMC RESERVES

Pacific Energy oil and gas reserves are valued at $2.42/share at discounted cash flow or $3.95 undiscounted future cash flow. Current oil and gas transactions have shown the price of natural gas reserves from $1.07 to $6.51 per million BTU, while oil reserves are being traded at between $20 to $40 per proved bbl of oil.

About Pacific Energy & Mining

Pacific Energy is a diversified company that operates oil and gas leases throughout Utah. It also has non-operated interests in Utah and Oklahoma and owns a 7% working interest in Brennan Bottoms. The Company is in the process of unitizing the field with offset leaseholders, the largest of which is Questar Company. Additionally the Company owns a 16.67% interest in Mar/Reg Investments, a General Partnership, through which it holds working interest in oil wells in Altamont Bluebell Oil Field in Utah.

The Company would also like to welcome all shareholders to visit our website at www.pemc.us for detailed information.

Disclaimer

The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or further changes make it clear that any projected results (expressed or implied) will not be realized.

Contact Information: Investor Relations Worldwide Financial Marketing, Inc. USA Int'l 1 954 360 9998 US 866 360 9998 Email Contact: Email Contact

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