HARTSDALE, N.Y., Aug. 14, 2009 (GLOBE NEWSWIRE) -- Frank C. Ingriselli, President and CEO of Pacific Asia Petroleum, Inc. (OTCBB:PFAP), will be one of the featured experts presenting at the 2nd Annual Coal Bed Methane Conference being held August 18-21 in Singapore. This conference is being held amid major new growth in the coal bed methane (CBM) industry in China, India, Indonesia, Australia and other parts of the Far East.
Mr. Ingriselli's speech, "Successful & Strategic Partnerships for CBM Development in China: The Path to a $1 Billion Industry in 5 Years," will outline his vision for CBM in China, his $1 billion forecast, and the potential opportunities that aggressive, innovative companies can leverage.
Drawing upon his 30 years of experience in China energy markets, the presentation will include an overview of the investments, operations, and actions currently being taken across the CBM marketplace and how companies like CUCBM, Petro China, Shell, Arrow, Total, Green Dragon Gas, Sino Gas & Energy, Far East Energy, and Pacific Asia Petroleum are developing successful strategic partnerships that are anticipated to propel the CBM and tight gas sand industry in China to exceed expectations, 2x-3x production forecasts, and create a $1 billion industry.
Central to this discussion will be the cutting-edge technologies and innovative strategic partnerships undertaken by Pacific Asia Petroleum, a prominent foreign holder of rights to CBM acreage in China.
Mr. Ingriselli will show how the strategic partnerships he has helped to create with the Chinese Government over the past 30 years have worked, including the first successful international energy contract in China which continues to generate over $1 billion in annual revenues today. This partnership approach has been the foundation for Pacific Asia Petroleum and its operations in China, and one which Mr. Ingriselli hopes will propel his company into a leadership position in this tremendous, ongoing growth industry.
With his deep knowledge of the energy industry, Mr. Ingriselli will also explain how CBM translates into clean energy and how capturing coal-seam methane and combusting it for energy can reduce greenhouse gas emissions by a 21:1 ratio - a critical, publicly-stated objective of the Chinese Government. Mr. Ingriselli will conclude his presentation with an overview of how companies can pool risk and leverage expertise and resources to build a new series of world-class strategic partnerships with long-term competitive advantages.
For more information about the 2nd Annual CBM Conference and Pacific Asia Petroleum, please visit www.ibc-asia.com/cbm and www.papetroleum.com.
About Pacific Asia Petroleum, Inc.
Pacific Asia Petroleum, Inc. (OTCBB:PFAP) is a U.S. publicly-traded energy company focused on low-risk, high return projects - real opportunities in China. The Company controls the rights to significant gas acreage under contracts in China and is a strategic partner with several major energy companies in high-value oil fields in China. The Company was founded in 2005 by a group of senior Texaco executives and is led by CEO Frank C. Ingriselli. Pacific Asia Petroleum is headquartered in Hartsdale, New York, and also has offices in Beijing, China and California.
Cautionary Statement Relevant to Forward-Looking Information.
Some of the items discussed in this press release are forward-looking statements about Pacific Asia Petroleum, Inc.'s activities in the People's Republic of China. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates," "budgets" and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict. Among the factors that could cause actual results to differ materially are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; results of additional testing; timely development of production opportunities and acquired technologies; the successful issuance and assignment of enhanced oil recovery-related patent rights by the government of the People's Republic of China; the potential disruption or interruption of testing and development activities due to accidents, political events, civil unrest, or severe weather; government-mandated restrictions on scope of company operations; general economic and political conditions; the Company's ability to successfully consummate the contemplated acquisitions on terms and conditions satisfactory to the Company, obtain required government approvals, and to successfully integrate the acquired entities and operations into the Company's business; and other risks described in the Company's filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Pacific Asia Petroleum, Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.