CALGARY, ALBERTA–(Marketwired – Nov. 7, 2016) – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX:PRQ) announces that Mr. Kevin Adair has resigned from his positions as President and Chief Executive Officer, and as a director of Petrus. The board of directors is pleased to announce that Mr. Neil Korchinski, currently Vice President Engineering and Chief Operating Officer at Petrus, has been promoted to the role of President and Chief Executive Officer and has joined the Petrus Board.
Petrus’ Chairman of the Board Mr. Don Gray stated, “On behalf of the entire board, I welcome Neil to his new role at Petrus. Neil has been with Petrus since inception and has played an integral role in getting Petrus to where it is today. Over the past twelve months, Petrus has strengthened its balance sheet and improved the returns on its capital program. We believe the Company is well positioned to pursue a strategy of profitable, organic growth in its core area of Ferrier, Alberta. The Board is confident that Neil has the right skills and experience to lead the Company into this exciting new chapter.”
The staff, management, and Board of Directors of Petrus would like to thank Mr. Adair for his leadership, hard work, commitment, and service to Petrus. We all wish him the best in his future endeavours.
Petrus is a public Canadian oil and gas company focused on property exploitation and strategic acquisitions in Alberta.