TORONTO, June 21 /CNW/ - Eagleford Energy Inc. (OTCBB "EFRDF") ("Eagleford Energy" or the "Company"), announces that at a meeting of its board duly held on June 18, 2010 (the "Meeting") Sandra Hall resigned as President and a Director of the Company and James Cassina an already sitting board member was appointed as the new President. In addition, the board welcomes Colin McNeil, P. Geoph ("McNeil") appointed as a new member of the board of Directors at the Meeting.
McNeil is a geophysicist and brings 40 years of oil and gas experience across North America and internationally. Throughout an extensive career in the sector McNeil has managed exploration programs and structured technical assessments for companies in the Middle East, Africa, the Far East, Central and South America, the Arctic and western Canada. Furthermore, McNeil assisted in the integration of Canadian Roxy and Westcoast Petroleum Ltd. McNeil's proven experience with exploration and development projects globally is expected to add significant value to the Company.
Eagleford Energy extends its appreciation to Sandra Hall for her many contributions to the Company including leading Eagleford Energy through its recently announced acquisition of a leasehold interest prospective for the much coveted Eagle Ford shale formation in Zavala County, Texas.
There are approximately 25.3 million shares issued and outstanding in the capital of the Company.
About Eagleford Energy Inc.
Eagleford Energy Inc. is a growth orientated oil and gas company with a focus on growing hydrocarbon reserves, cash flow, and net asset value per share through exploration and production of mineral properties in South Texas. The Company is actively pursuing leases and drilling opportunities in Zavala County, Texas and throughout the region with a primary objective of obtaining high-demand Eagle Ford Shale acreage for follow up exploration and production.
Certain information regarding the Company in this news release may constitute forward-looking statements under applicable securities laws. The forward-looking information includes, without limitation, statements regarding impact from the shut-in of facilities, the applicability of royalty reductions, and impact on future funds flow. Various assumptions were used in drawing the conclusions or making the forecasts and projections contained in the forward-looking information contained in this press release, which assumptions are based on management analysis of historical trends, experience, current conditions and expected future developments pertaining to the Company and the industry in which it operates as well as certain assumptions as specifically outlined in the release above. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release. Undue reliance should not be placed on forward-looking information, which is not a guarantee of performance and is subject to a number of risks or uncertainties. Readers are cautioned that the foregoing list of risk factors is not exhaustive. Forward-looking information is based on the estimates and opinions of the Company's management at the time the information is released and the Company disclaims any intent or obligation to update publicly any such forward-looking information, whether as a result of new information, future events or otherwise, other than as expressly required by applicable securities laws.
SOURCE Eagleford Energy Inc.
For further information: For further information: Investor Relations, Eagleford Energy Inc., Telephone: 877-723-5542, Facsimile: 416 364-8244