Pacific Oil Company update the public on its previously announced bid to purchase 67 oil wells on 9 Canadian heavy oil properties. Pacific Oil's all-inclusive bid has been accepted by Grant Thorton LLC Trustee who will now submit the offer to the Court of Queen's Bench for final approval and acceptance.

Ed Loven, Vice president of Pacific Oil, said, "Provided final approval from the courts is granted, this acquisition will immediately increase Pacific Oil's revenue stream and asset base by a meaningful amount which intern will dramatically increase the overall value of our company as a whole. Pacific Oil looks forward to further increasing and strengthening our operational foot print in this energy rich area to the benefit of our shareholders and will we continue to execute our growth strategy moving forward."

Tags: Pacific Oil Company