Great Pacific International Signs a letter of Intent with Amco Energy Ltd

VANCOUVER, Jan. 28 /CNW/ - Great Pacific International Inc. ("GPI") (TSX.V: GPI) has signed a Letter of Intent with Amco Energy Ltd. ("AMCO") to buy into up to two development wells in the Wildmere area of Alberta. Under the agreement, GPI will earn a 70% interest in the first well upon paying 100% of the costs to drill and complete the well, with an option to participate in a second planned development well. Upon participating in the second well, GPI will have earned a 70% interest in the Petroleum and Natural Gas rights on the property. The wells have been permitted and drilling is expected to commence shortly. Amco will be designated as the operator of the Property.    The drilling and completion costs on the first well are estimated to be about $550,000.

GPI and AMCO are to enter into a formal Joint Venture Operation Agreement on mutually acceptable terms.

Thal S. Poonian, president of GPI commented that: "We are very excited about this opportunity! We look forward to working with AMCO to increase our oil and gas production in Alberta".

GPI also wishes to announce the grant of 1,600,000 stock options ("Options") to directors, senior officers, employees and consultants. The Options will be exercisable for five years at an exercise price of $0.15 per option

About Great Pacific International

Great Pacific International is a public company actively engaged in the exploration, and development of natural gas and crude oil. The company's strategy is focused on creating value for shareholders by acquiring and developing petroleum and natural gas leases primarily in western Canada. Great Pacific's shares are listed on the TSX Venture Exchange under the symbol GPI.

On behalf of the Board,

"Thal S. Poonian"
Thal S. Poonian President

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Trading on TSX     -     Symbol GPI

SOURCE Great Pacific International Inc.

For further information:

contact Thal S. Poonian, President, at 604-940-9190, toll free 1-877-942-8765 or by email tpoonian@telus.net.

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Great Pacific International Inc.

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