CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce that Mr. Ken Gray has been appointed as President and Chief Executive Officer of Petrus. Mr. Gray is a Petroleum Engineer from Texas A&M with extensive experience in Canada, the North Sea and Alaska and is currently President of a private oil and gas company with operations in Alberta.
Mr. Neil Korchinski has resigned as President, CEO and a Director of the Company. Petrus would like to thank Neil for his years of service with Petrus and extend its best wishes for success in his future endeavours.
Mr. Chris Graham has departed as interim Chief Financial Officer of the Company. Petrus extends its thanks to Chris for his contributions to Petrus over the past difficult year and wishes him all the best for the future. Petrus is pleased to announce that Mathew Wong, the current controller of Petrus, has been appointed as the Vice-President, Finance of the Company.
Petrus will focus on developing its inventory of low risk, high return properties in Alberta to grow cash flow and reduce debt. Petrus also intends to reduce overhead costs while rewarding its employees with good earnings, job security and support for their communities.
Don Gray, the Chairman of Petrus commented “I look forward to a bright future for Petrus.”
Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta.