CALGARY, Feb. 21 /CNW/ - Pyramid Petroleum Inc. (TSXV: PYR) today
announced new headquarters has been opened in Houston, Texas, and that
subsequently a complete spectrum of professional experts has been retained
with extensive knowledge and experience with offshore operations, both
domestic and international. A small corporate reporting office will be
maintained in Calgary.
Pyramid's CEO, Ilyas Chaudhary stated, "Pyramid has stayed on its chosen
course and waited patiently for the right opportunity to bolster operational
expertise. Expanding the base in Houston has permitted the addition of an
experienced operations team to execute Pyramid's value optimization plan for
the Gulf of Mexico assets."
The immediate opportunities in Gulf of Mexico and further growth in
Pyramid's operations has dictated the need to make the following additions to
Pyramid's management team:
1. Paul Appel - VP Operations: Mr. Appel has 33 years of oil & gas
experience, including 28 years with Phillips
Petroleum/ConocoPhillips. Mr. Appel possesses offshore operations,
drilling and management experience in the Gulf of Mexico, offshore
California, North Sea and offshore Venezuela. Mr. Appel is a degreed
2. Sherry Herrington - VP Land: Ms. Herrington has 26 years of oil & gas
experience, including 7 years with Norcen, mostly working in offshore
Gulf of Mexico area. Ms. Herrington had worked extensively in the
areas of acquisitions/divestitures and contract negotiations.
3. Faisal Chaudhary - VP Marketing: Mr. Chaudhary has 15 years
experience in the finance and marketing fields, consulting for
several private and public companies. Since 2001, Mr. Chaudhary has
also managed a private oil and gas company which operates primarily
in Bakersfield, California. He holds a Masters degree in Business
4. Walton Vance - VP Finance: Mr. Vance has 25 years of oil & gas
industry experience, working mostly with public companies for
financial and compliance reporting. Mr. Vance also has public
accounting experience with a Big Four accounting firm.
5. Ken James - Well Intervention/Completions Manager: Mr. James has
28 years of experience in the oil & gas industry; working for such
companies as BP, Statoil, Norcen and Marathon. He is a Licensed
Professional Engineer in the State of Texas and his expertise
includes well completions and workovers, reservoir engineering and
production operations. Mr. James has supervised projects in the
Deepwater and Shelf Gulf of Mexico, US Land and a Gas Plant.
6. Gary Sellers - Supply Chain Manager: Supply Chain Professional with
over 32 years experience supporting domestic and international
drilling and production operations for major and independent energy
companies, such as Texaco, Inc. Mr. Sellers has a Bachelor of
Sciences degree from University of Southwest Louisiana.
Mr. Chaudhary, CEO, added "The Company now has the tools in place to move
ahead in the Gulf of Mexico. In addition to developing wells in the Gulf,
Pyramid is continuing to review international prospects and is prepared to
secure such prospects if, as and when, the opportunity is right. The talents
of this management team know each other's strengths from working together
before. As Pyramid, we will create forward momentum to pursue tangible goals
to achieve asset development, growth and expansion for shareholders."
The TSX Venture Exchange has neither approved nor disapproved of the
Except for statements of historical fact, all statements in this press
release, without limitation, regarding new projects and future plans and
objectives are forward-looking statements which involve risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from those
anticipated in such statements.
For further information:
For further information: Faisal Chaudhary, V.P. Marketing, Pyramid
Petroleum Inc., email@example.com, (713) 622-5550, x 110,
www.pyramidpetroleum.com; CHF Investor Relations: Cathy Hume, CEO,
firstname.lastname@example.org, (416) 868-1079, x 231; Michael Borovec, Associate Account
Manager, email@example.com, (416) 868-1079, x 229