Add
PFAP.OB to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| PFAP.OB > SEC Filings for PFAP.OB > Form 8-K on 5-Oct-2009 | All Recent SEC Filings |
5-Oct-2009
Regulation FD Disclosure, Financial Statements and Exhibits
On October 5, 2009, Molopo Australia Ltd. ("Molopo") issued an S708A Compliance Notice and Disclosure under Section s708A of the Corporations Act 2001 of the Commonwealth of Australia (the "Molopo Announcement") wherein Molopo disclosed that it is in an advanced stage of negotiations with Pacific Asia Petroleum, Inc. (the "Company") in respect of the sale of Molopo's 26.1% gross interest in Fortune Liulin Gas Company Limited (the "FLG Interest"), which entity is a party to a production sharing contract covering the Liulin coal bed methane block (the "Liulin PSC") located in the Shanxi Province of the People's Republic of China. As consideration for the FLG Interest, the Company will issue approximately 2.7 million shares of Common Stock of the Company to Molopo and pay to Molopo a 2% royalty on future production revenue received from the FLG Interest by the Company. The sale remains subject to the finalization of negotiations and documentation, is subject to pre-emptive rights held by Fortune Oil Group, Molopo's partner in the Liulin PSC, and there is no certainty the transaction will proceed.
A copy of the Molopo Announcement, dated October 5, 2009, announcing these matters is furnished herewith as Exhibit 99.1.
The information contained in Item 7.01 to this current report on form 8-K and
the exhibit attached hereto shall not be deemed to be "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or otherwise subject to the liabilities of that section, nor shall such
information or such exhibit be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such a filing. The
information set forth in this Item 7.01 or exhibit 99.1 to this form 8-K shall
not be deemed an admission as to the materiality of any information in Item 7.01
to this report on form 8-K that is required to be disclosed solely to satisfy
the requirements of Regulation FD.
(d) Exhibits Exhibit Number Description 99.1 Molopo Announcement, dated October 5, 2009. |
|
|