Alaska Pacific Energy Considering South Texas Oil/Gas Lease
MIAMI, Feb. 27, 2013 /PRNewswire/ -- Alaska Pacific Energy Corp. (PINKSHEETS: ASKE) announced earlier this week that it is moving closer to a deal for drilling acreage in McMullen County, Texas. The acreage being considered appears to be able to provide an outstanding pay from the Eagle Ford Shale Pay Zone. Experts have estimated over 25 Billion Barrels of oil and 150 trillion cubic feet of natural gas in the Eagle Ford Shale Pay Zone. The company is in the process of accessing additional geology on the actual tracts that they are considering. There are also stacked payout opportunities in formations that are found both above and below the Eagle Ford. This is a very exciting time at the company.
Company President, Dominick Falso said, "I have spent quite a bit of time investigating various opportunities in a variety of areas. The Eagle Ford Shale Play has been booming for the past few years but we feel, and so do many others, that this boom should last for years to come. Our goals include exchanging restricted shares for drilling rights or even partnering up with current lease owners…again bring restricted common stock to the table. This gives us a year from the a date that we acquire a lease to develop it to production…the theory being that the oil and or gas production will help fortify the company, financially and otherwise… ."
"We have been working very hard since taking over in December," Mr. Falso continued. "We still have a few items that need attention…for instance our website is still not up to date…we expect that to be fixed soon…and we are working on becoming a listed or transparent company again…listed on OTC as a QB Company…however the main objective is to become profitable…and by doing so increase and support shareholder value… ."
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