SOURCE: Georgetown Corporation

June 04, 2012 13:38 ET

Georgetown Corporation Announces Corporate Management Changes

OKLAHOMA CITY, OK--(Marketwire - Jun 4, 2012) - GEORGETOWN CORPORATION (OTCBB: GTCP) announced today that it has appointed Glenn Houck Sr. as Director, James H. Ruth as Director and Secretary, Carl W. Swan as CEO, and Thomas Seifert as CFO and Treasurer of the company.

The expanded leadership team includes veterans of the Oil & Gas Industry and professionals from the business community. The Officers, along with the Directors at Large, will ensure that the purpose of Georgetown continually remains current, relevant, and on‐course to meet the ongoing goals and objectives of the company, and its stakeholders.

The company will continue with its original mandate of exploration, but will also seek to provide specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States.

Glenn Houck, Sr. has been appointed outside Director of the company. He worked in the oilfield tubular material inspection industry for 38 years. He founded Star Pipe Service, Inc. in April of 1985 and has served as its President until present day. In light of Mr. Houck's years of experience in the oilfield material inspection industry, the Company believed it was in its best interests to appoint Mr. Houck as a Director.

James Harley Ruth has been appointed Director and Secretary of the company. He has operated an accounting and general business consulting practice since 2001. His business experience includes assignments with manufacturers to software companies. Mr. Ruth was also a Senior Consultant with Oracle Corporation where he participated in the implementation of Oracle Financial Software for large multinational customers. These experiences will greatly contribute to his positions as Secretary and Director of the Company.

Mr. Swan has had a long and distinguished business career in the oil industry. He has over 50 years experience in the energy and related resources business. Mr. Swan established Swan Petroleum Corporation in 1976 and continues to serve as its President. Prior to Swan Petroleum, Mr. Swan has owned and operated numerous other successful Drilling Companies, including Intrepid Drilling, Continental Drilling, Longhorn Oil and Gas Company, Basin Drilling amongst others.

Thomas Seifert was appointed as Chief Financial Officer and Treasurer due to his financial management expertise and prior positions as a CFO. He has more than 13 years of general management, global operations and financial management expertise. Mr. Seifert is a Managing Partner at Grannus Capital and a principal of Rocky Mountain Advisors Corp. where he provides management and financial advisory services. Prior to this he served as Chief Financial Officer and Board Member at World Surveillance Group, where he was responsible for overseeing acquisitions, corporate strategy, treasury activities, tax planning, accounting, reporting, internal audit and investor relations.

D. Melvin Swanson says, "I verily believe that this newly expanded leadership team will be able to create new opportunities for growth, develop major projects effectively, acquire new companies, and generate exceptional shareholder returns."

Please refer to the company's 8K filing for more information about these material events.

About Georgetown Corp.

Georgetown is an exploration or exploratory stage company involved in the examination and investigation of land that may contain valuable minerals. The Company plans to continue its growth organically, search for new acquisitions, and expanding geographically. It also plans to provide oilfield services and equipment to independent and major oilfield companies in exploration, production and development of oil and gas properties, domestically and in selected international markets.

Contact Information

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