Alaska Pacific Energy Corp. (OTC PINK: ASKE) announced ten days ago that it has issued a letter of intent to purchase 100% of the mineral rights on 40 acres in McMullen County, Texas. In that release the Company had indicated that it would release more specific information later that week. "Everything seems to take longer than expected," said Company President Dominick Falso. "However I can now say that the deal is moving along as expected. Also I have received numerous telephone calls and emails asking about the drill site. I can say that the site is in the middle of petrohawks (hk) hawkville field which is a multi billion dollar company. As I have mentioned before, we have funders that are willing to get involved with deals for a piece of the deal, contingent upon the merits of the deal and as I have previously stated, this one acquisition could produce hundreds of thousands of dollars per month in revenues in exchange for an investment of less than half a million dollars ...I am very excited."
The Shale Energy Insider, an Industry Journal, reported on the propose transaction on April 17th, 2013 which can be found online. The Company has also been looking at other oil and gas opportunities both in Texas and other states and hopes to be making offers on at least two additional opportunities in the near future.