Business
Great Pacific International Signs a letter of Intent with Amco Energy Ltd
Jan. 28, 2011 (Canada NewsWire Group) -- VANCOUVER, Jan. 28 /CNW/ - Great Pacific Internation...
About this update from Wescan Energy Corp.
[{"type":"text","content":"\n\n\n\n Jan. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Jan. 28 /CNW/ - Great Pacific International Inc. ("GPI")\n (TSX.V: GPI) has signed a Letter of Intent with Amco Energy Ltd.\n ("AMCO") to buy into up to two development wells in the Wildmere area\n of Alberta. Under the agreement, GPI will earn a 70% interest in the\n first well upon paying 100% of the costs to drill and complete the\n well, with an option to participate in a second planned development\n well. Upon participating in the second well, GPI will have earned a 70%\n interest in the Petroleum and Natural Gas rights on the property. The\n wells have been permitted and drilling is expected to commence shortly.\n Amco will be designated as the operator of the Property.    The\n drilling and completion costs on the first well are estimated to be\n about $550,000.\n\n\nGPI and AMCO are to enter into a formal Joint Venture Operation\n Agreement on mutually acceptable terms.\n\n\nThal S. Poonian, president of GPI commented that: "We are very excited\n about this opportunity! We look forward to working with AMCO to\n increase our oil and gas production in Alberta".\n\n\nGPI also wishes to announce the grant of 1,600,000 stock options\n ("Options") to directors, senior officers, employees and consultants.\n The Options will be exercisable for five years at an exercise price of\n $0.15 per option\n\n\nAbout Great Pacific International\n\n\nGreat Pa...