HOUSTON, TX, Jan. 17, 2013 /CNW/ - Enhanced Oil Resources Inc. (TSX.V:
EOR; OTCQX: EORIF) (the "Company") today announces the following
addition to the Company's management team.
The Company is pleased to report that Mr. Mark Peavy has joined the
Company as Vice President CO2 Projects and will report directly to the Company's President and CEO.
Mark holds a Master of Business Administration from Rice University,
Houston, Texas (2008) and a Bachelor of Science in Petroleum
Engineering from University of Texas-Austin, Austin, Texas (1981). Mark
has over 30 years of experience as a petroleum engineer and most
recently was employed by Kinder Morgan CO2 Company where he was CO2 subsurface engineering manager and SACROC field development manager
with direct responsibility for the subsurface design and execution of
eight CO2 redevelopment projects within the SACROC field.
EOR Inc.'s President and CEO Mr. Barry Lasker reports "The Company is
very pleased to have a person of Mark's caliber join the team at EOR.
Mark's experience in developing large scale CO2 Enhanced Oil Recovery projects will greatly help the Company as it
executes its plan to become one of the largest enhanced oil recovery
resource companies in the Permian basin."
The Company also announces the grant of 1,940,000 incentive stock
options entitling the purchase, for a period of five years, of
1,940,000 shares of the company at a price of $0.10 per share pursuant
to the terms of the Company's Stock Option Plan approved by
shareholders on August 31, 2012.
About Enhanced Oil Resources Inc.
Enhanced Oil Resources Inc. (TSX.V: EOR; OTCQX: EORIF) trades in Canada
on the TSX Venture Exchange under the symbol "EOR" and in the United
States on OTCQX under the symbol "EORIF". Enhanced Oil Resources Inc.
is an early-stage company, with a principal goal of increasing crude
oil and natural gas production through enhanced oil recovery ("EOR")
and infill drilling projects it is initiating in the Permian Basin.
Certain statements contained herein are "forward-looking statements" and
"forward-looking information" under applicable securities laws,
including statements regarding beliefs, plans, expectations or
intentions regarding the future relating to Enhanced Oil Resources
Inc.'s operations, business prospects, expansion plans and strategies.
Forward-looking information typically contains statements with words
such as "intends", "anticipate", "estimate", "expect", "potential",
"could", "plan" or similar words suggesting future outcomes. Readers
are cautioned not to place undue reliance on forward-looking statements
because it is possible that expectations, predictions, forecasts,
projections and other forms of forward-looking information will not be
achieved. Forward-looking statements are based on the opinion and
estimates of management at the date the statements are made, and are
based on a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Although Enhanced Oil Resources believes
that the expectations reflected in such forward-looking statements are
reasonable, Enhanced Oil Resources can give no assurance that such
expectations will prove to be correct, that the lateral wells will be
drilled as expected, that the lateral wells will result in commercial
production and that oil production will continue as reported. Readers
should refer to Enhanced Oil Resources' current filings, which are
available at www.sedar.com, for a detailed discussion of these factors,
risks and uncertainties. The forward-looking statements or information
contained in this news release are made as of the date hereof and
Enhanced Oil Resources undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so
required by applicable laws or regulatory policies.
ON BEHALF OF THE BOARD OF DIRECTORS
Barry D Lasker, CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE: Enhanced Oil Resources Inc.
For further information:
about Enhanced Oil Resources Inc. please visit our Website at www.enhancedoilres.com or please call Don Currie on 1-888-990-3551.