Palo Duro Energy Inc.

Palo Duro Energy Inc.

February 14, 2011 20:01 ET

Palo Duro Energy Inc.: Appointment of Interim President

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2011) - Palo Duro Energy Inc. (TSX VENTURE:PDE) ("Palo Duro" or the "Company") is pleased to announce the appointment of Stephen Barley as interim President and Chief Executive Officer of the Company.

The Company also announces that Mark Bush has resigned as Palo Duro's President and Chief Executive Officer. Palo Duro thanks Mr. Bush for his contribution to the Company.

Palo Duro Energy Inc. is a Canadian oil and gas exploration and development company with corporate offices in Vancouver, British Columbia and has an interest in two gas exploration fields in Texas. The Company holds a 27% interest in approximately 3,500 net acres of prospective oil and gas leases in the Palo Duro Basin in northwest Texas and a 23% interest in approximately 48,000 net acres of prospective oil and gas leases in McLennan County, Texas.

Palo Duro Energy Inc.

J. Stephen Barley, Director

This news release may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such statements and information are based on assumptions and judgments of management of the Company regarding future events or results and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements and information. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.

Shares Outstanding: 161,091,844

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Palo Duro Energy Inc.
    Investor Relations
    1-604-639-4670 (FAX)