8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities and Exchange Act of 1934

Date of report (Date of earliest event reported): August 12, 2009

PACIFIC ASIA PETROLEUM, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-52770	30-0349798
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

250 East Hartsdale Avenue

Hartsdale, New York 10530

(Address of principal executive offices) (Zip Code)

(914) 472-6070

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 REGULATION FD DISCLOSURE

On August 12, 2009, Pacific Asia Petroleum, Inc. (the “Company”) issued a press release announcing the start of operations and generation of initial revenues from its enhanced oil recovery and production (“EORP”) business through its Hong Kong subsidiary, Pacific Asia Petroleum Energy Limited (“PAPE”), and its China affiliate, Inner Mongolia Sunrise Petroleum Co. Ltd. (“Sunrise”), and the Company’s plan to continue such operations successively on more wells pursuant to contractual rights the Company has with respect to oil fields in the Liaoning Province of China.

A copy of the Company’s press release, dated August 12, 2009, announcing these matters is furnished herewith as Exhibit 99.1.

The information contained in Item 7.01 to this current report on form 8-K and the exhibit attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information or such exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth in this Item 7.01 or exhibit 99.1 to this form 8-K shall not be deemed an admission as to the materiality of any information in Item 7.01 to this report on form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d)	Exhibits
Exhibit Number		Description
99.1		Press Release, dated August 12, 2009.

SIGNATURES

Pursuant to the requirement 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.

	PACIFIC ASIA PETROLEUM, INC.
Dated:  August 12, 2009	By:	/s/ Frank C. Ingriselli
		Frank C. Ingriselli
		Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release, dated August 12, 2009.

EX-99.1

Exhibit 99.1

Pacific Asia Petroleum, Inc. Starts Operations and Revenues from its Enhanced Oil Recovery and Production Business

FOR RELEASE: WEDNESDAY, August 12, 2009; 9:00AM Eastern Time

Hartsdale, New York, August 12:  Pacific Asia Petroleum, Inc. (PFAP.OB), a U.S.  publicly traded company (the “Company”), announced today that its Hong Kong subsidiary, Pacific Asia Petroleum Energy Limited (“PAPE”), along with its China affiliate, Inner Mongolia Sunrise Petroleum Co. Ltd. (“Sunrise”), commenced the generation of revenues and began operations on its first well in the Liaoning Province of China where it is conducting operations pursuant to its enhanced oil recovery and production (“EORP”) business. It is planned that such operations will continue successively on more wells pursuant to contractual rights the Company has with respect to oil fields in the Liaoning Province.

Commenting on this achievement, Frank C. Ingriselli, President & CEO of Pacific Asia Petroleum, Inc., said: “This is a significant milestone for our Company that will generate cash flow and revenues in the 3rd Quarter of 2009.”

This is earlier than the Company had previously estimated and announced.

Mr. Ingriselli continued, “This achievement helps to validate our newly acquired EORP technology and delivers on our business plan of generating revenues and cash flow this year. We plan to build out EORP into a significant business that will provide positive cash flow, earnings and grow shareholder value. We are targeting hundreds of wells to add to our production portfolio and are aggressively pursuing such opportunities not only in the China market, but elsewhere in Asia.”

It is estimated that China has over 20 billion barrels of unrecovered high viscosity and high pour point crude oil resources that could benefit from the application of the Company’s EORP technology.

Media Contact:

Pacific Asia Petroleum, Inc.

Bonnie Tang

bonnietang@papetroleum.com

250 East Hartsdale Ave.

Hartsdale, NY 10530

(914) 472-6070

www.papetroleum.com

Investor Relations Contact:

Liviakis Financial Communications, Inc

John Liviakis

(415) 389-4670

John@Liviakis.com

www.liviakis.com

655 Redwood Hwy, Suite 395

Mill Valley, CA 94941

Cautionary Statement Relevant to Forward-Looking Information.

Some of the items discussed in this press release are forward-looking statements about Pacific Asia Petroleum, Inc.’s activities in the People’s Republic of China. Words such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “projects,” “believes,” “seeks,” “estimates,” “budgets” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management’s current expectations, estimates and projections; are not guarantees of future performance; and are subject to certain risks, uncertainties and other factors, some of which are beyond the Company’s control and are difficult to predict. Among the factors that could cause actual results to differ materially are changes in prices of, demand for and supply of crude oil and natural gas; actions of competitors; results of additional testing; timely development of production opportunities and acquired technologies; the successful issuance and assignment of enhanced oil recovery-related patent rights by the government of the People’s Republic of China; the potential disruption or interruption of testing and development activities due to accidents, political events, civil unrest, or severe weather; government-mandated restrictions on scope of company operations; general economic and political conditions; the Company’s ability to successfully consummate the contemplated acquisitions on terms and conditions satisfactory to the Company, obtain required government approvals, and to successfully integrate the acquired entities and operations into the Company’s business; and other risks described in the Company’s filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Pacific Asia Petroleum, Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.