Business
Great Pacific acquires additional Haro East-area targets
LADNER, BC, Sept. 15 /CNW/ - Great Pacific International Inc. ("Great Pacific", the "Company") is...
About this update from Wescan Energy Corp.
[{"type":"text","content":"\n\n\n\nLADNER, BC, Sept. 15 /CNW/ - Great Pacific International Inc. ("Great\nPacific", the "Company") is pleased to announce the acquisition, pursuant to a\nfarm-out agreement, of earn-in rights to three sections of petroleum and\nnatural gas rights adjoining our existing Haro East project. These sections\nacquired are prospective for Bluesky-zone natural gas.\n\n\nPursuant to this farm-out agreement, Great Pacific has the right to drill\nthe initial test well on or before January 4, 2009, subject to access.\nDrilling the initial well to the depth of the Banff formation will earn us the\nright to drill up to two additional sections immediately following rig release\nof the initial test well.\n\n\nThe Company will earn a 100% working interest in each well drilled,\nsubject to a convertible 15% royalty reserved to the farmor.\n\n\nAs described in our press release dated January 11, 2008, our Haro East\nproject is located in the Peace River area of Alberta, near Township 103.\nGreat Pacific believes that the opportunity to expand the Haro East project\nthrough the acquisition of these adjacent targets will improve the economics\nof our operations in this area.\n\n\nOn behalf of the Board,\n\n"Thal S. Poonian"\nThal S. Poonian, President\n\nThe TSX Venture Exchange has in no way passed upon the merits of these\ntransactions, and has neither approved nor disapproved the contents of\nthis press release.\n\n\nCertain statements in this press release constitute "forward-looking\nstatements" which involve known and unknown risks, uncertainties, and other\nfactors that may cause actual results to be materially different from any\nfuture results, performance, outcomes, or achievements expressed or implied by\nsuch statements. Words such as "expects", "anticipates", "intends", "plans",\n"will", "believes", "seeks", "estimates", "should", "may", "could" and\nvariations of such words and similar expressions are intended to identify such\nforward-looking statements. These statements are based on management's current\nexpectations, beliefs and plans, and actual events or results may differ\nmaterially. Forward-looking statements are based on current expectations, and\nthe Company assumes no obli...