SOURCE: EuroGas, Inc.

October 02, 2009 09:08 ET

EuroGas Appoints Harald Schmidt Director and Executive Vice President

NEW YORK, NY--(Marketwire - October 2, 2009) - EuroGas, Inc. (PINKSHEETS: EUGS) (FRANKFURT: EUG) (XETRA: EUG) (HAMB: EUG) (STUT: EUG) today announced that it has appointed Mr. Harald Schmidt to the Board of Directors and Executive Vice President. Mr. Schmidt will direct the company's operations in North America, and will also assist in managing the company's operations in Europe. Mr. Schmidt is based in North America and Germany.

Since 1987, Mr. Schmidt has been a management consultant, serving clients such as Deutsche Lufthansa AG, Deutsche Bahn AG (German National Railway Corp.), ADIDAS (UK) Ltd., Whirlpool-Bauknecht AG. In addition, he has been a lecturer for corporate audit systems at the Austrian Academy for Business Executives (University of Graz) and logistics and touristic systems at the Bavarian College of Technology, Munich.

From 1983 - 1986 he held the position as head of MIS (Management Information Services) at Raychem-Germany GmbH and headed intercompany logistics projects at Raychem Corp. Brussels and Menlo Park, CA, a subsidiary of Tyco International Ltd. From 1978 - 1982 he held the position as head of MAS and ISA (Management Advisory Services and Information Systems Audit) at Price Waterhouse GmbH in Munich, Germany. Mr. Schmidt began his career as systems engineer and consultant at IBM and Eastman Kodak in Germany.

Mr. Schmidt is an industrial engineer and holds a Master of Arts (MA in economics and informatics) and Master of Science (MSc in mechanical engineering) degree of the Darmstadt University of Technology, Germany.

"I am delighted to welcome Harald to the EuroGas team,'" said Wolfgang Rauball, Chairman, President and CEO, EuroGas. "I have known Harald for a considerable period of time and am highly confident that his business experience will help our company reach its objectives of attaining significant increases in shareholder value."

About EuroGas, Inc.

EuroGas is a publicly traded oil and gas company with assets in Ukraine and Poland, as well as talc mining interests in the Slovak Republic. The company's common stock trades on the Frankfurt, Hamburg and Stuttgart Stock Exchanges and XETRA in Germany under the symbol EUG and on the Other OTC (Pink Sheets) in the United States under the symbol EUGS.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995.

You can identify forward-looking statements by their use of the forward-looking words "anticipate," "estimate," "project," "likely," "believe," "intend," "expect," or similar words. These statements discuss future expectations, contain projections regarding future developments, operations, or financial conditions, or state other forward-looking information. When considering the forward-looking statements made in this press release, you should keep in mind the risks noted and other cautionary statements throughout this press release. You should also keep in mind that all forward-looking statements are based on management's existing beliefs about present and future events outside of management's control and on assumptions that may prove to be incorrect. If one or more risks identified in this press release or other filing materializes, or any other underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected, or intended.

Contact Information

  • For further information, please contact:
    Wolfgang Rauball
    Chairman & CEO
    EuroGas, Inc.
    Telephone: (212) 618-1274