HOUSTON, July 30, 2015 /CNW/ - Enhanced Oil Resources Inc. (TSX: EOR) (the "Company") is pleased to announce the appointment of Rick D. Powers as the Company's Vice President, Chief Financial Officer and Treasurer.
Mr. Powers brings to the Company more than 30 years of experience in both public accounting and the energy industry, serving in numerous roles including financial management, auditing, accounting and mergers and acquisitions. From 1997 to 2007, Mr. Powers was a national energy practice audit partner at UHY, LLP's Houston Office, where he provided due diligence, mergers and acquisition advisory and public offering guidance to private and public clients, including clients listed on the London and Canadian stock exchanges. His private company experience includes serving as the principal financial officer for an exploration and production company, and an oilfield service manufacturer.
Mr. Powers is a Certified Public Accountant and member of the Texas Society of CPAs and the American Institute of CPAs. Mr. Powers holds a BBA in Accounting from Texas Tech University.
Mr. Powers replaces W. Kyle Willis who has elected to retire. The Company thanks Mr. Willis for his many years of service.
About Enhanced Oil Resources Inc.
Enhanced Oil Resources Inc. owns and operates two large historic oil fields in New Mexico – the Milnesand & Chavaroo oil fields. Recorded production from these two fields is in excess of 37 million barrels of oil, representing approximately 10% of the original oil in place. The Company plans to unlock the value in these resource-rich fields by increasing the efficiency of its operation and by applying new and proven unconventional production technologies.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "will", "could" and other similar words, or statements that certain events or conditions "may" or "could" occur. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While our management believes that the assumptions made are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE Enhanced Oil Resources Inc.
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