Pace Oil & Gas Ltd. Announces Significant Increase in Oil-Weighted Reserves

Pace Oil & Gas Ltd. (TSX:PCE) reports company’s 2010 year end reserves.

The press release is quoted as saying:

Pace grew its proved plus probable reserves (“P+P”) to more than 67 million barrels of oil equivalent weighted 49% to oil and natural gas liquids (32,554 mboe). The Company added reserves at a strong finding and development (“F&D”) cost of $12.00/boe for proved (including changes in Future Development Costs – “FDC”) and $17.20/boe for P+P (including changes in FDC).

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