[3] Pangea Petroleum Announces Natural Gas Project.Business/Energy Editors NOTE: The following news release replaces and corrects the previous Pangea Petroleum news release, which ran earlier Tuesday on Business Wire, BW0300, (TX-PANGEA-PETROLEUM) HOUSTON--(BUSINESS WIRE)--March 14, 2000 Pangea Petroleum Corporation ("Pangea") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PAPO PAPO Professional Association of Parasail Operators (San Diego, CA) PAPO Purchased As Part Of PAPO Plein Air Painters of the Ozarks ) announced today that they have signed a contract to participate in a natural gas exploration and production project in Webb County, Texas Webb County is a county located in the U.S. state of Texas. In 2000, its population was 193,117. In 2006[1] its population had been estimated to have reached to 231,470. Its county seat is Laredo6. , with MRL MRL Medical Record Librarian; now called Medical Record Administrator. MRL maximum residue limit. Hydrocarbons Inc., a Houston company. The test well will be started on Wednesday and is scheduled to reach the target formation next week. Charles Pollock, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Pangea commented that the company was very pleased to be adding this promising project to our natural gas portfolio, particularly with gas prices well in excess of $2 per million BTU Btu: see British thermal unit. . He added that the project is designed to add significant reserves to the company at a reasonable cost. The test well is expected to prove initial natural gas reserves of more than one (1) BCF. The location is close to existing pipelines and the cost to market the gas will be modest. If this test well is as successful as we anticipate, we expect a substantial drilling effort that will involve additional acreage. Special Note: Management believes certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the company's performance anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses. |
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