DGAP-News: First Pacific Oil and Gas Company Ltd.: First Pacific Oil and Gas Advises on Current Crude Oil Prices
(firmenpresse) - DGAP-News: First Pacific Oil and Gas Company Ltd. / Key word(s):
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First Pacific Oil and Gas Company Ltd.: First Pacific Oil and Gas
Advises on Current Crude Oil Prices
09.03.2011 / 15:30
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First Pacific Oil and Gas Advises on Current Crude Oil Prices
Toronto, Canada - (For immediate release) - March 9, 2011
First Pacific Oil and Gas Company Ltd. (First Pacific): Deutsche Börse
symbol: C2G (www.pacificgasoil.com) advises that rising oil prices can
provide additional impetus in its endeavors to obtain a contract for
exploration of the Company's Galoc Oil Field (Galoc) project.
With crude oil prices reaching 28 month highs in recent days, the Company
believes there will be greater incentives for the Philippine Department of
Energy (DOE) to encourage expanded exploration and development of its
domestic reserves. The price of Brent crude oil has traded from a low of
USD $68.01 - USD $105.79 in the last 52 weeks. With forecasts for continued
increases in the crude oil market, a target of $121 for the upcoming year
would seem reasonable.
In recent years, the discovery and development of oil and gas resources
have held the promise of reducing the country's reliance on imported fuel,
as well as becoming a valuable natural resource to exploit and provide an
important financial engine for the economy.
Current prices for crude oil can be found at
www.oil-price.net/index.php?lang=en.
About First Pacific:
First Pacific Oil and Gas is a resource based company actively engaged in
early exploration stage oil and gas projects based in the Philippines. It
is seeking to acquire licenses to develop projects in key regions in
proximity to proven properties and to subsequently negotiate development
deals with funding partners from Asian countries such as China.
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.
For further information please contact:
First Pacific Oil and Gas Company Ltd.
World Exchange Plaza
S-1150
45 O'Connor Street
Ottawa, ON
K1P 1A4
Email: info(at) pacificgasoil.com
End of Corporate News
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114970 09.03.2011
Datum: 09.03.2011 - 15:30 Uhr
Sprache: Deutsch
News-ID 33429
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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