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… ."
The South Texas opportunities
are not the only ones being examined. The company is also exploring
drilling opportunities in West
Texas as well as Oklahoma
and Kansas. The company expects that the price of crude oil
will remain in the one hundred
dollars per barrel for quite a while. Accordingly the
company is developing plans to be able to acquire leases, develop
them and get to market at a substantial profit which should have a
positive impact on shareholder value. The company will continue to
keep shareholders informed of its progress.
Safe Harbor Statement: This release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934 that are based upon assumptions that in the future may
prove not to have been accurate and are subject to significant
risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed
from time to time in reports filed by the company with the
Securities and Exchange Commission and or elsewhere. Although
the company believes that the expectations reflected in its
forward-looking statements are reasonable, it can give no assurance
that such expectations or any of its forward-looking statements
will prove to be correct. Factors that could cause results to
differ include, but are not limited to, the company's ability to
raise necessary financing, retention of key personnel, timely
delivery of inventory from the company's contract manufacturers,
timely product development, product acceptance, and the impact of
competitive services and products, in addition to general economic
risks and uncertainties.
CONTACT: Alaska Pacific Energy Corp.
Dominick Falso, President (954)
793-0657
www.alaskapacificenergy.com
info@Alasksapacificenergy.com
SOURCE Alaska Pacific Energy Corp.