Gas Distribution Agreement Signed by Pacific Asia Petroleum, Inc.Gas Distribution Agreement • July 7th, 2009 • Pacific Asia Petroleum Inc • Drilling oil & gas wells
Hartsdale, New York, July 7: Pacific Asia Petroleum, Inc. (PFAP.OB), a U.S. publicly traded company (the “Company”) announced today that its China affiliate, Inner Mongolia Sunrise Petroleum Co. Ltd. (“Sunrise”), has entered into a Letter of Intent with Handan Hua Ying Company Limited (“Handan”), relating to the acquisition of a 49% ownership interest in the Handan Chang Yuan Natural Gas Company, Ltd. (“HGC”) held by Handan. HGC owns and operates gas distribution assets in and around Handan City in the Hebei Province of the People’s Republic of China. This Letter of Intent supplements the Letter of Intent entered into by the Company in November 6, 2008 covering the same gas distribution assets.
