SOURCE: WGI Holdings, Inc.

December 04, 2007 15:59 ET

WGI Holdings Appoints New President to Launch New Business Model in the Oil & Gas Industry

HOUSTON, TX--(Marketwire - December 4, 2007) - WGI Holdings Inc. (PINKSHEETS: WGIH) announced today that the company has appointed Mr. Greg Shindler as the company's new President. Mr. Shindler will direct WGI Holdings' new business model into the Oil & Gas Industry. Mr. Shindler has a background in the petroleum industry related to service industry, gas marketing, and production operations. He has owned and managed a drilling company in west Texas and has consulted for various oil and gas companies.

Mr. Shindler states, "The petroleum sector is presently very active and has high potential for investor and company profitability. WGIH will focus on acquisition of non-producing and marginal producing properties to implement recompletion workovers and recover oil & gas left in place behind pipe by previous owners/operators. WGHI has identified dozens of wells in Kansas, Oklahoma and Texas that have excellent recompletion potential and intend to develop these opportunities. I believe that the Company will have an exciting future in the new direction that we are heading."

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans," "feels," "anticipates" and certain of the other foregoing statements may be deemed "forward-looking statements." Although Lucas Energy believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors.

Contact Information

  • Contact:
    WGI Holdings, Inc.
    Houston, Texas

    Greg Shindler
    Ph. 713.213.9444
    Email Contact