Petro-Reef Resources
Ltd.
TSX-V: PER
October 2, 2007
Petro-Reef
Resources Ltd. Hires VP Finance and CFO
CALGARY, ALBERTA - Petro-Reef Resources Ltd. is
pleased to announce that John Pantazopoulos has joined its management team as
Vice President Finance and Chief Financial Officer as of October 1,
2007.
Mr. Pantazopoulos is former Vice
President Finance of Brooks Development Corp. and served most recently as
Manager of Business Development and Internal Controls at Terra Energy Corp. He
is Portfolio Manager of a junior oil and gas investment partnership and former
Manager of CIBC Commercial Banking. Mr. Pantazopoulos holds an honours Bachelor
of Commerce degree from the University of Saskatchewan and is a CFA
Charterholder.
Robert Maertens-Poole, who has been
serving part time as Petro-Reef's Chief Financial Officer, has stepped aside
from his management position as CFO, but continues to sit on Petro-Reef's Board
of Directors.
"We are pleased to have attracted
someone with Mr. Pantazopoulos's experience and expertise to fill this key role
on a full-time basis," said Joe Werner, Petro-Reef's President and CEO. "We
thank Mr. Maertens-Poole for helping to build Petro-Reef to a position of
financial strength and for his willingness to help us ensure a smooth
transition."
Petro-Reef also announces that on
October 1, 2007, the Board of Directors granted stock options to Mr.
Pantazopoulos to purchase up to 150,000 common shares under its Incentive Stock
Option Plan. The exercise price is $1.36, which was the closing price of
Petro-Reef's shares on October 1, 2007. The stock options will vest over one
year and expire five years from the date of the grant.
Petro-Reef Resources Ltd. is a
Calgary-based junior oil and gas company focused on petroleum and natural gas
lease acquisition and exploration, and development of crude oil and natural gas
properties in Alberta, Canada.
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of this
release.
For more information, please
contact:
Petro-Reef Resources
Ltd.
Joseph Werner
President and
CEO
(403) 265-6444
or
Petro-Reef Resources
Ltd.
Theodore M.
Donhuysen
Vice-President Exploration and
Production, and COO
(403) 265-6444
or
Petro-Reef Resources
Ltd.
Suite 970, 10655 Southport Road
S.W.
Calgary, Alberta T2W
4Y1
(403) 265-6444
(403) 264-1348
(FAX)
Email: info@petro-reef.ca
Web Site: www.petro-reef.ca
or
Bryan Mills
Iradesso
Geoffrey
Vanderburg
(403) 503-0144 ext.
203
Email: gvanderburg@bmir.com
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Petro-Reef Resources Ltd.
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EXPLORATION STAGE |
CODE : PER.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Petro-Reef Resources is a gold exploration company based in Canada. Its main exploration property is ALEXANDER in Canada. Petro-Reef Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 4.4 millions as of today (US$ 3.2 millions, € 3.0 millions). Its stock quote reached its highest recent level on December 24, 2007 at CA$ 2.30, and its lowest recent point on April 24, 2020 at CA$ 0.03. Petro-Reef Resources has 62 239 000 shares outstanding. |