Pacific Asia Petroleum Announces Approval for NYSE Amex Listing

HARTSDALE, N.Y.--(BUSINESS WIRE)--Pacific Asia Petroleum, Inc. (OTCBB:PFAP - News), engaged in the business of oil and gas development, production and distribution in Asia and the Pacific Rim countries, announced today its common stock has been approved for listing on the NYSE Amex. Trading is expected to begin on November 5, 2009 under the new ticker symbol PAP (NYSE Amex: PAP). Prior to that date, Pacific Asia Petroleum’s shares will continue to trade on the Over-the-Counter (OTC) Bulletin Board. “Moving from the OTC Bulletin Board to the NYSE Amex is another tremendously important milestone for Pacific Asia Petroleum,” said President and CEO Frank C...
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Pacific Asia Petroleum Earns Top Ranking in Latest Accounting & Governance Risk (AGR) Report

HARTSDALE, N.Y.--(BUSINESS WIRE)--Pacific Asia Petroleum, Inc. (OTCBB:PFAP - Newsth percentile among the 12,000+ companies rated for Accounting and Governance Risk (AGR) by Audit Integrity. The new rating is a further improvement on Pacific Asia Petroleum’s already impressive 97% percentile ranking achieved in Audit Integrity’s May 2009 audit.Walter Smiechewicz, Chief Consultant of Governance & Risk for Audit Integrity, said, “AGR is a proven statistical measure of good governance and transparent accounting. Today, we believe that measure is more critical than ever when evaluating a company’s performance.”Audit Integrity, Forbes Magazine's auditing partner in the "100 Most Trustworthy Companies," is a leading provider of accounting and governance risk analysis on public companies. It looks beyond the raw data on income statements and balance sheets to assess the true quality of corporate accounting and management practices.Commenting on the Company's most recent AGR score, President and CE...
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Pacific Asia Petroleum, Inc. Commences Drilling Operations on its Zijinshan Gas Asset

HARTSDALE, N.Y.--(BUSINESS WIRE)--Pacific Asia Petroleum, Inc. (OTCBB:PFAP - News), a US-based publicly traded company, announced today that it has commenced drilling operations on its 100% owned Zijinshan gas asset (“Zijinshan Asset”) located in the Shanxi Province of China. This is the first well in a multi-well program planned on the Zijinshan Asset. The 100% owned and operated Zijinshan Asset was awarded to Pacific Asia in 2008 pursuant to a Production Sharing Contract that was approved by the Chinese Ministry of Commerce.Pacific Asia is planning to carry out its operations in the most economically efficient manner so as to minimize cash outlays as ...
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PACIFIC ASIA PETROLEUM INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits

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PACIFIC ASIA PETROLEUM INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits

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PACIFIC ASIA PETROLEUM INC Files SEC form 8-K, Regulation FD Disclosure

ITEM 7.01 REGULATION FD DISCLOSURE On September 1, 2009, Pacific Asia Petroleum, Inc. (the "Company") entered into a Memorandum of Understanding with CAMAC Energy Holdings Limited ("CAMAC") and certain CAMAC subsidiaries, regarding the Company's intention to acquire an aggregate 60% participating interest currently held by two of CAMAC's wholly-owned subsidiaries, in the Oyo Oilfield which is covered by a production sharing contract OML120 in the Nigerian offshore (the "Asset"), for total consideration of $198.84 million payable by the Company through a combination of shares of the Company's common stock and a smaller portion of cash (the "Proposed Transaction"). This is the entire interest held by CAMAC in the Oyo Oilfield, which field is operated by Eni/Agip, who owns the balance of the participating interest. If the Proposed Transaction is consummated, CAMAC would beneficially own approximately 63% of the Company post-closing, resulting in a change of control of the Company. The Company's entry into the Proposed Transaction is subject to the satisfactory completion of due diligence, entry into a definitive agreement with CAMAC, approval by the Company's Board of Directors and stockholders, and certain other closing conditions. In the interim, CAMAC has agreed to a four-month exclusivity period with respect to the Assets and the Company has agreed to a limited stand-still agreement which limits its ability to engage in certain material transactions, both of which will expire on December 31, 2009. More information on CAMAC is available on their website at www.camac.com. The information contained in Item 7.01 to this current report on form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information or such exhibit be deemed incorporated by reference in any filing un...
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Pacific Asia Petroleum, Inc. to Present At Rodman & Renshaw Annual Global Investment Conference

HARTSDALE, N.Y., Aug. 31, 2009 (GLOBE NEWSWIRE) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP - News) is pleased to announce the Company's participation in the Rodman & Renshaw Annual Global Investment Conference to be held in New York City September 9-11, 2009. The Company's President and CEO, Frank C. Ingriselli, will speak during the Energy Track of the conference at: * 11:40am ET, Friday, September 11, 2009. * Palace Hotel, New York. Holmes I Salon (4th Floor). Based upon his 30 years of experience in the global energy industry, Mr. Ingriselli will discuss the opportunities in China's energy markets, and how Pacific Asia Petroleum's low-risk, high-return strategies, combined with a balanced portfolio of assets and strategic partnerships with other major oil companies, is executing upon its strategy of capturing a niche in these high-momentum markets. Mr. Ingriselli noted about the Company's participation, "We are excited to be part of the Rodman & Renshaw conference this year and welcome the opportunity to share with the investment community the latest developments in our oil and gas projects, including the recent milestone in commencing generation of revenues and cash flow from our Enhanced Oil Recovery and Production (EORP) business." Mr. Ingriselli has been a pioneer in the Chinese energy market since 1979. Before founding Pacific Asia Petroleum, Inc., Mr. Ingriselli spent 23 years at Texaco in diverse senior executive positions. He retired in late 2001 as the President...
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PACIFIC ASIA PETROLEUM INC Financials

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Pacific Asia Petroleum, Inc. CEO Frank Ingriselli Projects $1 Billion Growth Opportunity in China CBM Industry at Singapore Conference

HARTSDALE, N.Y., Aug. 14, 2009 (GLOBE NEWSWIRE) -- Frank C. Ingriselli, President and CEO of Pacific Asia Petroleum, Inc. (OTCBB:PFAP - News), will be one of the featured experts presenting at the 2nd Annual Coal Bed Methane Conference being held August 18-21 in Singapore. This conference is being held amid major new growth in the coal bed methane (CBM) industry in China, India, Indonesia, Australia and other parts of the Far East. Mr. Ingriselli's speech, "Successful & Strategic Partnerships for CBM Development in China: The Path to a $1 Billion Industry in 5 Years," will outline his vision for CBM in China, his $1 billion forecast, and the potential opportunities that aggressive, innovative companies can leverage. Drawing upon his 30 years of experience in China energy markets, the presentation will include an overview of the investments, operations, and actions currently being taken across the CBM marketplace and how companies like CUCBM, Petro China, Shell, Arrow, Total, Green Dragon Gas, Sino Gas & Energy, Far East Energy, and Pacific Asia Petroleum are developing successful strategic partnerships that are anticipated to propel the CBM and tight gas sand industry in China to exceed expectations, 2x-3x production forecasts, and create a $1 billion industry. Central to this discussion will be the cutting-edge technologies and innovative strategic partnerships undertaken by Pacific Asia Petroleum, a prominent foreign holder of rights to CBM acreage in China. Mr. Ingriselli will show how the ...
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