Pacific Energy Ltd. has
received approval from the American Stock Exchange (the 'Exchange' or 'Amex')
to list its shares of common stock on the Exchange under the ticker symbol
The Company expects to begin trading on or before April 18, 2005.
The Exchange's approval is contingent upon the Company's being in
compliance with all applicable listing standards on the date it begins trading
on the Amex.
David Newman, Chairman, commented, "Being listed on the American Stock
Exchange adds to our already exciting story which should improve liquidity for
shareholders and also broadens our exposure to the investment community."
Austral is an oil and gas exploration and production company with projects
in New Zealand and Papua New Guinea. It is active in 20 permits and is the
operator of 14 of them for itself and its joint venture partners.
currently producing oil from a production testing program in the Cheal field
located in New Zealand's prolific Taranaki basin. Flow testing is also
anticipated soon from the recently drilled Cardiff property, a deep gas
prospect, also in the Taranaki area.