HARTSDALE, N.Y., Aug. 31, 2009 (GLOBE NEWSWIRE) -- Pacific Asia Petroleum, Inc. (OTCBB:PFAP) is pleased to announce the Company's participation in the Rodman & Renshaw Annual Global Investment Conference to be held in New York City September 9-11, 2009.
The Company's President and CEO, Frank C. Ingriselli, will speak during the Energy Track of the conference at:
* 11:40am ET, Friday, September 11, 2009. * Palace Hotel, New York. Holmes I Salon (4th Floor).
Based upon his 30 years of experience in the global energy industry, Mr. Ingriselli will discuss the opportunities in China's energy markets, and how Pacific Asia Petroleum's low-risk, high-return strategies, combined with a balanced portfolio of assets and strategic partnerships with other major oil companies, is executing upon its strategy of capturing a niche in these high-momentum markets.
Mr. Ingriselli noted about the Company's participation, "We are excited to be part of the Rodman & Renshaw conference this year and welcome the opportunity to share with the investment community the latest developments in our oil and gas projects, including the recent milestone in commencing generation of revenues and cash flow from our Enhanced Oil Recovery and Production (EORP) business."
Mr. Ingriselli has been a pioneer in the Chinese energy market since 1979. Before founding Pacific Asia Petroleum, Inc., Mr. Ingriselli spent 23 years at Texaco in diverse senior executive positions. He retired in late 2001 as the President of Texaco Technology Ventures where he oversaw Texaco's multi-billion dollar global technology initiatives and investments. Among Mr. Ingriselli's achievements at Texaco was the signing of the first successful international oil contract in China in 1983, which today is still generating over $1 billion a year in revenues. For more information about Frank C. Ingriselli, visit www.papetroleum.com
For more information on the Rodman & Renshaw Conference or to schedule a one-on-one meeting with Pacific Asia Petroleum, Inc.'s management, please visit http://www.rodm.com/conferences?id=33
About Pacific Asia Petroleum, Inc.
Pacific Asia Petroleum, Inc. is engaged in the business of oil and gas exploration, development, production and distribution in Asia and the Pacific Rim countries, with a specific focus on developing a broad range of energy opportunities, including clean and environmentally friendly natural gas ventures, 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.