Alaska Pacific Energy Corp. (OTCPINK: ASKE) announced yesterday that it has expanded the focus of examining their funding options to include Project Funding. The Company has previously announced that it intended on funding their upcoming oil projects by offering restricted shares of common stock. Since the company's recently announced commitment to exhaust all efforts to once again become a reporting company, the company has been offered various additional funding options. Company President Dominick Falso is currently examining Project Funding.
Project Funding includes the lender as an equity partner on a specific project rather than in the company. Mr. Falso said, "This would help preserve the common stock value, rather than having large blocks of stock out there...even though the stock can not be traded for at least one year from issuance, one year will pass soon enough. One of the problems that I see in the past of our company is the dilution of the common stock that occurred. We are committed to not letting history repeat..."
In spite of the fact that the company is actively investigating opportunities in several areas, Mr. Falso sees the Eagle Ford Shale projects as being at the top of the list. "You have Eagle Ford Shale and then you have conventional drilling projects," said Mr. Falso. "They (Eagle Ford Shale Wells) are typically a lot more expensive...in every way...lease acquisition, drilling, completion...but they also typically are well worth the cost. As long as oil stays above sixty five dollars per barrel, we should be able to make a go of it. Funding of the projects has been no small issue, of course...but now we are talking to people that appear to be willing to fund based on the strength of the deal...so we are busy looking for the best deal...the best value."
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
CONTACT: Alaska Pacific Energy Corp.
Dominick Falso , President (954) 793-0657
www.alaskapacificenergy.com (web site under revision; not totally up to date.)
SOURCE Alaska Pacific Energy Corp.