Pacific Oil & Gas Limited Rebrands to Pacific Energy Corporation Limited

SINGAPORE – Media
OutReach – 26 October 2021 – Pacific Oil & Gas Limited (PO&G) has announced that it will
rebrand its operations to become Pacific Energy Corporation Limited.

Ratnesh Bedi, President of Pacific
Energy said, “The Pacific Energy name and new logo reflects the next step in
our growth strategy dedicated to providing cleaner energy for North American
markets and growing Asian economies. Our refreshed branding also creates a
platform for new product development and future acquisitions.”

Pacific Energy, which is part of the
Singapore-based RGE group of companies founded by Sukanto Tanoto in 1973, is an
independent energy resources development company focused on helping North
America and growing Asian economies meet their increasing energy requirements.
The company strategy is to invest, develop, build, own and operate innovative
and cost-competitive projects throughout the energy value chain, while
maintaining constant attention to its role as a responsible corporate citizen.

Established
Presence in China

Since 2003, Pacific Energy has taken
strategic positions in China’s gas and related power markets. Pacific Energy is
one of the first two foreign companies to own interests in liquefied natural
gas (LNG) receiving terminals in China. Pacific Energy also successfully built
and operates the first 100% foreign-owned combined cycle gas turbine (CCGT) power
plant in Xiamen, and owns 70% stake in another CCGT power plant in Wuxi.  Power plants powered by natural gas are more
efficient than traditional coal-fired power plants. They can also serve as an
effective bridge fuel to meet energy demand when the supply from renewable
sources does not provide consistent returns throughout the day.

Growing
Presence in Canada

In Canada, Pacific Energy’s exploration
and production of gas are conducted through its subsidiary Pacific Canbriam
Energy (PCE). Acquired by Pacific Energy in 2019, PCE is a leading exploration
and production company focused on finding and developing over-pressured, liquid
rich natural gas resources in the Western Canadian Sedimentary Basin.
Headquartered in Calgary, Alberta, with operations near Fort St. John, British
Columbia, PCE differentiates itself from competitors through the quality of its
resource and commitment to sustainability.

PCE achieved EO100™ Standard Certification from Equitable Origin in August
2021, signifying PCE’s demonstrated use of innovative and transparent practices
to produce some of the world’s most sustainable and responsible natural gas.

Pacific Energy is expanding its existing
presence in Canada with the Woodfibre LNG Project, a Liquefied Natural Gas
(LNG) export facility located near Squamish, British Columbia, about 70km from
Vancouver. The Woodfibre LNG Project has obtained a licence to export LNG for
40 years. The project has also received environmental approvals from the
federal and provincial governments as well as the local Indigenous people:  the Squamish Nation. By using hydroelectric
power for the refrigeration process, Woodfibre LNG will be one of the most
innovative and cleanest LNG facilities in the world.

Bedi added, “We believe there is a
distinct opportunity for Pacific Energy to expand as a competitive and
sustainable gas-based value chain business. Economies around the world which
have been hit hard by the impact of the global pandemic are rebounding at a
rapid pace.  At the foundation of any
economic recovery is ‘energy’.  We take
great pride in providing clean energy to North American and growing Asian
economies.”