Pacific East Advisors, Inc. Amendments to Merger Agreement with Advanced Drilling and Inner Mongolia

Pacific East Advisors, Inc. Amendments to Merger Agreement with Advanced Drilling and Inner Mongolia

Pacific East Advisors, Inc. (PCAD) announced that it has amended and restated the merger agreements originally entered into on December 11, 2006 with Advanced Drilling Services, LLC (“ADS”) and Inner Mongolia Production Company LLC (“IMPCO”).

The Amended and Restated Agreements were primarily amended to reflect a reduction in the issued and outstanding Class A Interests of ADS and to increase the exchange ratio pursuant to which IMPCO Class A Units and Class B Units will convert into capital stock of PCAD from 7:1 to 17:1.

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