UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 10, 2004
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Date of Report (Date of earliest event reported)
PIONEER OIL AND GAS
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(Exact name of Registrant as specified in its charter)
Utah 0-30472 87-0365907
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(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
1206 W. South Jordan Parkway, Unit B South Jordan, UT 84095
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(Address of principal executive offices) (Zip Code)
(801) 566-3000
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 5: Pioneer Oil and Gas (the "Company")is filing this form 8K because of the
press release issued of the same date. The press release is attached to this
Form 8K as an exhibit.
(c) Exhibits. The following exhibit is furnished pursuant to Item 5 of
Form 8-K:
Press Release announcing the spudding of the Yankee Mine West #1 well
and other announcements of the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PIONEER OIL AND GAS Registrant
Date: December 10, 2004 /s/ Don J. Colton
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Don J. Colton
President
December 10, 2004
DRILLING STARTS ON NEW YANKEE PROJECT
South Jordan, Utah --- Pioneer Oil and Gas (OTC Bulletin Board: PIOL)
announced today that it had commenced drilling on its Yankee Mine West Project
in White Pine County, Nevada.
Pioneer has an 18.75 percent carried interest to casing point on the first
three wells drilled on the prospect.
Don J. Colton, President of Pioneer Oil and Gas stated, "This well is a
follow-up to the Yankee Mine 27-23x well drilled in 1992. Both wells are on the
same large north-south anticline." Just east of the well is the Yankee Mine oil
seep that was featured in a 1991, Oil and Gas Journal article.
In another development Pioneer Oil and Gas has received earnest money on
its Uinta Basin Overpressured Gas Prospect in Utah. Closing is scheduled for
January 2005.
Finally, Pioneer Oil and Gas has also acquired a fifty percent interest in
over 60,000 acres in the exciting new Central Utah Overthrust Play. Wolverine
Gas and Oil's discovery opened this play in May 2004. Wolverine is reported to
be producing over 4,000 barrels of oil a day from the first two wells drilled
and is in the process of drilling a third well. Pioneer feels it is well
positioned in this play with interests in over 10 prospects that appear to have
oil potential.
Further information on Pioneer can be viewed at our web site at
www.piol.com.
Statements concerning future financial results, production, expenditures,
reserve estimates, and other items are forward-looking statements. These
statements are based on assumptions concerning commodity prices, drilling
results and other factors management believes are reasonable based on currently
available information; however, management's assumptions and the Company's
future performance are both subject to a wide range of business risks, and there
is no assurance that these goals and projections can or will be met.