HOUSTON, Jan. 6, 2015 /CNW/ - Enhanced Oil Resources Inc. (TSX-V: EOR; OTCQX: EORIF) is pleased to announce the appointment of Andrew Hromyk as the Company's Chief Executive Officer.
Mr. Hromyk joined the Company's Board of Directors in mid-November, and has been mandated to significantly reduce operating costs, preserve capital and conduct a strategic review of the Company's assets concurrent with the ongoing evaluation of the Milnesand and Chaveroo oil fields by Schlumberger Technology Corporation announced September 18, 2014.
"I and the other newly appointed members of the Board of Directors are hopeful of securing the support of shareholders at the upcoming AGM", said Mr. Hromyk. We look forward to this new challenge and are confident that we can take the necessary steps to ensure the Company has the potential to grow beyond its current state of affairs."
Since 1995, Mr. Hromyk has been president of Century Capital Management Ltd., an independent investment management and advisory firm based in Vancouver, B.C., with a proven record making strategic investments in private and public companies. Mr. Hromyk has supported energy operations domestically in Arkansas and west, central and south Texas, as well as internationally in Papua New Guinea and Nigeria. As an active investor, Mr. Hromyk has been involved with companies developing a diverse range of technologies, from enhanced hydrocarbon recovery processes to wireless infrastructure applications, and has also participated in numerous commercial real estate developments. Mr. Hromyk has served as a director of several private companies that became publicly traded on Nasdaq, the New York Stock Exchange and the London Stock Exchange Alternative Investment Market. Mr. Hromyk studied economics at Chaminade University and the University of British Columbia.
About Enhanced Oil Resources Inc.
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 and infill drilling projects it is initiating in the Permian Basin on oil fields acquired by the Company in 2007 and 2008 for that purpose.
ON BEHALF OF THE BOARD OF DIRECTORS
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SOURCE Enhanced Oil Resources Inc.
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