Pan Ocean Explorations Inc. is a British Colombia reporting company engaged in the acquisition, exploration and development of resource properties. The Company is listed on the Vancouver Stock Exchange and trades under the symbol “POE” with corporate head office located in Vancouver, British Colombia, Canada.
1999 Corporate Overview
Since January 1999, the Company has been active in the acquisition of various projects. These include the Tad/Toro gold properties northwest of Carmacks, Yukon Territory, Canada. The properties were acquired due to their proximity to the Pogo Gold Deposit. The Tad/Toro lies within the Tintina Gold Belt that trends from Alaska into the Yukon.
Several mineral claims were optioned in the Lac Rocher Area of Quebec based on the discovery of nickel-copper by Nuinsco Resources in March 1999. The resulting staking rush and surface exploration activities by junior exploration companies has recently subsided due to published results of the Nuinsco drilling programs.
Pan Ocean refocused the Company's corporate mandate to the oil and gas sector in April 1999. An onshore oil well was planned for York Harbour in Western Newfoundland under a letter agreement with Mobil Canada Properties Inc. The agreement with Mobil expired on July 15,1999 due to the results of the Shoal Point Well, south of York Harbour.
Pan Ocean entered into an Participation Agreement with Tri-Valley Oil and Gas of Bakersfield California and a consortium of junior companies, on August 24,1999. Pan Ocean has secured a 5% working interest in the EKHO Project, a deep oil and gas exploration play in the San Joaquin Valley, Kern County, California.
In addition, the company is currently reviewing and negotiating on several other resource projects the company feels are highly prospective. The Chairperson of the Board of Directors is Jack Singer, a well known Calgary oil and gas businessman.
Contact: Rob McIntosh
Suite 1450-409 Granville Street,
Vancouver, B.C.
Canada, V6C 1T2
Phone : (604) 685-2286
Fax : (604) 685-0513
Toll Free: 1-800-361-8333
E-mail : corp@portal.ca
Web site: pocean.com |
