A few weeks ago we posted about GPI, there is a new news release from the company that I wanted to share. Check out the news release below
Great Pacific International’s Slave Lake / Swan Hill Drilling Activity
March 9, 2012 DELTA, B.C. – Great Pacific International Inc. (“GPI”) (TSX.V: GPI) is pleased to report drilling activity in adjoining lands to our Slave Lake/Swan Hill property (located West of the town of Slave Lake, Alberta).
The third of three wells is been drilled in the area by First Mountain Exploration Ltd. This well that is being drilled to the basement, is adjacent to (approximately 150 Metres away from) GPI’s lease located at Section (34S T072 10W5).
GPI has a 100% Petroleum & Natural Gas interest in two half sections of land (640 acres) in the area both of which are surrounded by land staked by First Mountain Exploration Ltd (see map at www.gpicanada.net/operation ) .
The company plans to permit and drill these leases through its own efforts or through Joint Venture arrangements. Currently, the company is reviewing its options for development of this property including discussions/negotiations that are taking place with third parties.
About Great Pacific International
Great Pacific International is a public company actively engaged in the exploration and development of crude oil and natural gas. GPI currently owns over 33,000 gross acres of P&NG leases (over 30,000 net acres) in the Western Canadian Sedimentary Basin. The Company’s strategy is focused on creating value for shareholders by acquiring and developing petroleum and natural gas leases primarily in western Canada. Great Pacific currently has 47,478,432 shares outstanding which are listed on the TSX Venture Exchange under the symbol GPI.
I have also included a map of the Swan Lake area with a bit more information about the company view the PDF here
A Note Regarding Forward Looking Information
Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as “believes”, “expect, anticipate”, are intended to identify forward-looking statements. The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by Great Pacific International including among other things: future capital expenditure levels; future oil and natural gas production levels; the ability to obtain financing on acceptable terms; and ability to add production and reserves through exploration, development and exploitation activities.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. There is no assurance that wells drilled on the company’s properties will be successful or will produce results comparable to those on other properties in the area. The Company disclaims any responsibility to update forward-looking statements made herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.