Paco's Numero Uno Well on Olsen Lease Set to Produce

Paco Oil and Gas Inc., an exploration company focused on purchasing under valued oil and gas leases, announced that the company expects the first well located on the recently acquired Olsen lease properties to be in production by the end of January 2008. At present, there are 6 wells (uncompleted) on the 105 acre properties located in the county of Washington, Oklahoma ready for re-completion. Paco Oil and Gas is in the process of developing the necessary tanks and infrastructure to be capable and prepared to service all wells located on the Olsen property. Preliminary testing on the wells revealed recoverable oil in all 6 wells.