Palo Duro Energy Inc. TSX VENTURE : PDE

November 14, 2008 13:58 ET

Palo Duro Energy Inc.: Appointment of New Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES

Palo Duro Energy Inc. ("Palo Duro" or the "Company") (TSX VENTURE:PDE) is pleased to announce the appointment of Danny Lee as Chief Financial Officer of the Company.

Mr. Lee is a Chartered Accountant with over 10 years of experience in the resource sector, and he is the CFO of LNG Energy Ltd., an oil and gas exploration company with interests in Papua New Guinea. Previously, Mr. Lee served as CFO of Transeuro Energy Corp. which has operations in Papua New Guinea, Ukraine, Armenia and Canada.

The Company also announces that Kathleen Butt has resigned as Palo Duro's Chief Financial Officer. Palo Duro thanks Ms. Butt for her contribution to the Company.

Palo Duro Energy Inc. is an oil and gas exploration and development company with an operations office in Houston, Texas and corporate offices in Vancouver, British Columbia.

Palo Duro Energy Inc.

Mark A. Bush, President & CEO

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.