Pacific Asia Petroleum, Inc., a company engaged in the business of oil and gas development, production and distribution in Asia and the Pacific Rim countries, announced this morning that its common stock has been approved for listing on the NYSE Amex. Trading is anticipated to begin Thursday of this week under the new ticker symbol PAP. Until then, Pacific Asia Petroleum’s shares will continue to trade on the Over-the-Counter (OTC) Bulletin Board under the symbol PFAP.
“Moving from the OTC Bulletin Board to the NYSE Amex is another tremendously important milestone for Pacific Asia Petroleum,” stated President and CEO Frank C. Ingriselli. “We have always prided ourselves on our conservative accounting, transparency and corporate governance. Moving up to the NYSE Amex not only validates these efforts, it provides us with greater visibility for our company, more liquidity for our stock and the opportunity to further expand our investor base. We believe that this move will deliver more value for our shareholders now and down the road.”
“We welcome Pacific Asia Petroleum to NYSE Amex,” added Scott Cutler, Head of Listings, Americas. “Pacific Asia Petroleum and its shareholders will benefit from the superior market quality, technology, and services provided by listing on NYSE Euronext markets. Pacific Asia Petroleum is a welcome addition to our roster of leading energy companies, and we look forward to a strong and lasting partnership.”